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What is the meaning of the word socialism?What would a socialist society be like?

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What is the meaning of the word socialism?What would a socialist society be like?

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From the Holy Wikipedia: Socialism refers to various theories of economic organization advocating public or direct worker ownership and administration of the means of production and allocation of resources, and a society characterized by equal access to resources for all individuals with a method of compensation based on the amount of labor expended. — Socialism is not really a bad idea, the problem is that it is too easily corrupted and tend to Authoritarianism, where a group of people sits in the power with the excuse to administer the society. You can see it as a syndicate, except that in this case the syndicate leaders would also enforce the law, and remember that power corrupts, absolute power corrupts absolutely. And just FYI, despite of the propaganda you hear, Obama is not a Socialist, that is brainwashing.

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