Which political ideology advocates for collective ownership of resources and means of production?

The ideology that advocates for collective ownership of resources and means of production is socialism. This political and economic theory emphasizes the idea that the means of production, distribution, and exchange should be owned or regulated by the community as a whole. The core belief in socialism is that wealth and resources should be distributed more equally among people, ensuring that basic needs are met and reducing inequality.

Socialism emerged as a response to the inequalities generated by capitalism, where private ownership and profit motives were seen as leading to exploitation and class divides. By contrast, socialism seeks to establish a system where resources are shared, allowing for greater equity and cooperation among citizens.

In contrast to socialism, capitalism emphasizes private ownership and market-driven economies, where individuals or corporations own resources and goods. Liberalism centers on individual freedoms, democratic governance, and limited government intervention in the economy, but does not inherently advocate for collective ownership. Fascism is a totalitarian ideology that often involves extreme nationalism and the suppression of dissent, with state control over significant aspects of life, but it does not promote collective ownership in the same way that socialism does.