From The Art and Popular Culture Encyclopedia
Socialism refers to a broad array of doctrines or political movements that envisage a socio-economic system in which property and the distribution of wealth are subject to control by the "community."
The modern socialist movement had its origin largely in the working class movement of the late-19th century. In this period, the term "socialism" was first used in connection with European social critics who criticized capitalism and private property. For Karl Marx, who helped establish and define the modern socialist movement, socialism implied the abolition of money, markets, capital, and labor as a commodity.