Modern critics using the term 'socialism' often do not mean the classic definition of state control of the means of production, but rather are arguing for changes to tax policy.
definitionpending
Speaker
Charlie MungerEvidence Quote
“socialism used to mean that the state controlled the means of production and a lot of people who are promoting socialism actually aren't using that classic definition”
Source
Bill Gates, Charlie Munger, Warren Buffett on the socialism versus capitalism debate— CNBC TelevisionCreated: 8/11/2026, 8:07:00 AM
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