The view that the wealth that is produced in society belongs to everyone in society is

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Socialism is the view that the wealth produced in society should be owned and distributed equally among everyone in society. It differs from substantive egalitarianism in that it specifically focuses on economic equality and ownership of resources. Formal egalitarianism is the principle that everyone should have equal rights and opportunities, but it does not necessarily address economic equality. Libertarianism, on the other hand, emphasizes individual freedom and limited government intervention in the economy, which would not necessarily lead to equal distribution of wealth.

The View That the Wealth That Is Produced in Society