Socialism is a political and economic system that advocates for collective or governmental ownership and control of the means of production, distribution, and exchange. The primary goal of socialism is to promote social and economic equality by redistributing wealth and resources, ensuring that everyone has access to basic necessities and services such as healthcare, education, and housing. Socialism also emphasizes cooperation over competition and the welfare of the community as a whole, often contrasting with capitalist systems that prioritize individual profit and private ownership.