Yeah, that dictionary definition of socialism is what your average “occupy” sheeperal believes will be implemented under their utopia.
It never works that way, it can’t work that way.
“owned or regulated by the community as a whole”
Oh! Kumbaya!
Nope, won’t work. A strong centralized authority will invariably arise and subjugate that “community as a whole”.
Fact is, Socialism doesn’t work.
Think of it as a ‘science experiment’ that has been conducted in multiple locations, time periods and conditions and EVERY time has been the same result – Failure.
Consider this Bill Whittle on the subject:
The Loch Ness Monster is a “cryptid” — something rumored to exist but without actual proof. The Socialist Utopia of the progressives is a cryptid too. In his latest Firewall, Bill Whittle shows why Good Socialism, like the Loch Ness Monster, is a giant, air-breathing creature that (conveniently!) NEVER COMES UP FOR AIR.
Published on Sep 25, 2014
LOCH NESS SOCIALISM
https://www.youtube.com/watch?x-yt-ts=1422411861&x-yt-cl=84924572&v=FvfHLr5aEqU&feature=player_embedded