See how the primary definition of socialism compares among the most popular online information sources:

Encarta Encylopedia
A socio-economic system in which essential industries, social services, property and the distribution of wealth are publicly and cooperatively owned and democratically controlled with a view to equal opportunity and equal benefit for all.

Wikipedia
Economic and social system under which essential industries and social services are publicly and cooperatively owned and democratically controlled with a view to equal opportunity and equal benefit for all.

MSN
A political theory or system in which the means of production and distribution are controlled by the people and operated according to equity and fairness rather than market principles.

Dictionary.com
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.

WordIQ
A strategy of government where the government has control of many key resource-producing industries and manages many aspects of the market.

Answers.com
Any of various theories or systems of social organization in which the means of producing and distributing goods is owned collectively or by a centralized government that often plans and controls the economy.