Socialism
Today, socialists support collectivism. Socialist refers to someone who believes in public ownership of the means of production for the common good of society.
Modern socialists trace their roots to Karl Marx.
Karl Mark assumed that while successful capitalists accumulate considerable wealth and seize the value created by workers, while paying workers only subsistence wages in return.
His logic was that if the state owned the means of production, the state could ensure that workers were fully compensated for their labor. Thus, the idea is to manage state-owned enterprise to benefit society as a whole, rather than individual capitalists.