Reply #8: Yes it does

[muriel_volestrangler]

OED: 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.

Chambers: a political doctrine or system which aims to create a classless society by removing the nation's wealth (land, industries, transport systems, etc) out of private and into public hands.

Merriam-Webster: 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

Or see: http://www.google.co.uk/search?hl=en&q=define%3Asocialism&btnG=Google+Search&meta=