What socialism really is?

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Jim May put it this way:

We need to insist on definition by essentials, not the pedantic meanings used by evasive intellectuals.

Socialism is not defined by who owns the means of production; it is defined by whether the individual is free to opt out of something, or not. If individuals are free to opt out of something, it’s capitalism; if the individual is not free, it’s socialism.

HT: The ineffable Billy Beck