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Socialism as a system where the wealth of a country is democratically controlled for the benifit of all its citizens and not for the private greed of the top 5%.
The old slogan of "from each according to ability, to each according to needs" would apply.
The nature of production would also change from production for profit to production for need, culture, education or pleasure. Taking into account the other costs that capitalists ignore such as CO2 emissions or whether it is benifical to the society as a whole.
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