The term "socialism" describes an intermediate step between capitalism and communism in which social classes are abolished but some individual inequality remains.

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Socialism advocates for the redistribution of wealth and resources with the goal of achieving greater equality and shared ownership of the means of production. However, unlike communism, it allows for some private ownership and market mechanisms to exist alongside communal ownership and planning. It is often seen as an intermediate step towards communism, in which all individual inequality is abolished.

The Term "Socialism" Describes an Intermediate Step Between Capitalism and Communism