In a socialist system, the government, or the community, owns the means of production (factories, land, resources) to ensure production serves the collective good rather than private profit. Central planners often direct economic activity to meet societal needs, not consumer demand. This contrasts with capitalism, where private individuals or corporations own the means of production.

I guess it depends on how much you trust the government.

So you want the government to own the factories and farms? The means of production? Has that ever worked anywhere?

Slackware

Genuinely curious

Canada as well. We used to be number 1 for a while.

And replace it with what?

They use a “basket of goods and services” to calculate the Consumer Price Index (CPI), which measures the inflation rate in America. This basket includes items in major groups such as food and beverages, housing, transportation, medical care, recreation, education, and communication. It also accounts for taxes and fees directly related to these items but excludes income taxes and investment items.