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Reply to "How do you define Socialism?"
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[quote=Anonymous]OED definition: a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole. US examples in particular: the North Dakota Mill and Elevator in North Dakota, started in 1922 by the Non-Partisan League because ND farmers were being ripped off by the railroads and Minneapolis grain millers, and still in operation. The Bank of North Dakota, officially the State of North dba the Bank of North Dakota, started in 1919, originally with the intent to make credit available to those same farmers. During the recession, the BND got quite a but of national attention because of its health, and the idea of a state-owned bank has been floated very recently for other states. Also, incidentally, BND currently regards the odds of a recession in the near future as 1 in 3. [/quote]
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