Socialism is a political and economic system based on the principles of collective ownership and control of the means of production, distribution, and exchange. It emphasizes the idea of community and cooperation over individualism and competition, and seeks to eliminate social and economic inequalities. In a socialist system, the state or community may own and control industries, businesses, and resources, or they may be collectively owned and managed by workers. Socialism often seeks to create a more egalitarian society, with greater social welfare and reduced income and wealth inequality. Socialism is often contrasted with capitalism, which emphasizes private property rights and individual freedom, and it has been the subject of much political and ideological debate throughout modern history. Here we examine its ideas in comparison to that of Islam.