Included are several words and concepts essential to understanding socialism and Marxism, or political philosophy in general. Feel free to reach out if we missed anything, or if you dispute our definitions!
Bourgeoisie: the class in a society which controls the means of production; the group of people who own factories, corporations, mass production; CEOs, etc.
Capitalism: a mode of economic production wherein the means of production is held privately, such as by investors, CEOs, or corporations
Class: the relationship of a person to the means of production in a given society
Communism: a stateless, classless, moneyless society that emerges after a transition period from capitalism
Marxism: a theoretical framework based around an analysis of capitalism and an understanding of class relations as the driver of historical movements
Means of production: control of the facilities needed to produce things used by the masses of people, such as factories, etc.
Neoliberalism: a form of capitalism wherein the government exists only to make sure that marketplaces can function
Postmodernism: a school of philosophy based around the rejection of overarching theories like Marxism, Christianity, etc.
Socialism: a mode of economic production wherein workers own the means of production and control their workplaces democratically
Working class: anyone who must work for wages in a capitalist society; also known as the proletariat