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Meaning of utopian socialism

uto'pian so'cialism

Pronunciation: [key]
  1. (sometimes cap.) an economic system based on the premise that if capital voluntarily surrendered its ownership of the means of production to the state or the workers, unemployment and poverty would be abolished. Cf.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.