so·cial·ism noun \ˈsō-shə-ˌli-zəm\
Definition of SOCIALISM
1
: any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods
2
a : a system of society or group living in which there is no private property
b : a system or condition of society in which the means of production are owned and controlled by the state
3
: a stage of society in Marxist theory transitional between capitalism and communism and distinguished by unequal distribution of goods and pay according to work done
Deal with it.
Besides, all the greatest strides with regard to workers rights have been made within capitalist economies. Historically, those who tried to apply socialism generally ended up with overworked and underpaid workers, and rampant unemployment and inflation.