/soh"sheuh liz'euhm/ , n.
1. a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.
2. procedure or practice in accordance with this theory.
3. (in Marxist theory) the stage following capitalism in the transition of a society to communism, characterized by the imperfect implementation of collectivist principles. Cf. utopian socialism .
[ 1830-40; SOCIAL + -ISM ]