Socialism has been around in various forms for nearly 250 years, originating in the French Revolution of the late 1700s. It’s based on the core theory that governments should use central planning to control their economies and distribute wealth and assets to the population. In other words, wealth belongs to everyone; not just the business or individual who created the wealth.Socialism has gained traction at various points in American history but has never been fully implemented in the United States. While there are some programs, like welfare and Social Security that may be similar to socialist ideas, capitalism still holds strong in the U.S.