Socialism: (n.) 1. A theory or policy of social organization which aims at or advocates the ownership and control of the means of production, capital, land, property, etc., by the community as a whole, and their administration or distribution in the interests of all.
-- Compact Oxford English Dictionary of Current English, 2005.
Democracy: (n.) 1 a: government by the people; especially : rule of the majority b: a government in which the supreme power is vested in the people and exercised by them directly or indirectly through a system of representation usually involving periodically held free elections. 5: the absence of hereditary or arbitrary class distinctions or privileges.
-- Merriam-Webster Online Dictionary. 2007. http://www.merriam-webster.com
