Explain socialism as introduction ?

Socialism is a political and economic theory advocating for collective or governmental ownership and administration of the means of production and distribution of goods and services. In a socialist system, the goal is to create a more equal and fair society by reducing income inequality and providing social services such as healthcare, education, and housing to all citizens. Socialism aims to prioritize the needs of the community over individual profit, and often involves the redistribution of wealth through progressive taxation and social welfare programs. This ideology is often contrasted with capitalism, which prioritizes private ownership and free market competition.