The meaning of socialism as it was in 2010 and is now going into 2012, has the same meaning in Britain as it does in America. And its Democratic Socialism meaning that the people have Economic Liberty. And there's Free Enterprise but that its heavily regulated and taxed to finance a large Welfare State. To provide a lot of Social Insurances, Healthcare, Health Insurance, Education, Pensions, Transportation etc. Even media basically the Economic System that Sweden has but Democratic Socialism is not just an Economic System. But a full functioning Political Ideology, where socialists tend to be socialist of course on Economic Policy. But liberal to libertarian on Social Issues as they are in America but socialists in America preferred to be called progressives. Which I believe is for political reasons because of how unpopular the term socialist is in America. And American Socialists tend to be Socialist Libertarians, the Dennis Kucinich, Noam Chomsky's of the World. Actually Noam Chomsky defines his politics as Socialist Libertarian and socialists tend to be isolationist on Foreign Policy. Just like libertarians, actually Democratic Socialism is a version of socialism. Which again is a very diverse Political Ideology, just like Neoconservatism is a version of conservatism. This is what socialism looks like in the 21st Century even the Communist Republic of Cuba is moving away from Classical Socialism. Where the State owns the Means of Production in Society. President Hugo Chavez of the still Bolivar Republic of Venezuela is trying to establish a Classical Socialist Economic System there. But is having limited success at best in achieving that.
I believe socialists have figured out that Classical Socialism either doesn't work, when you essentially try to put the Central Government in charge. Of the entire country, especially in large countries or have figured out that there are just not enough people. To support an Economic System like that, so socialists have moderated. Into what's now called Democratic Socialism that I just laid out but that the goals and principles are still the same. But the policy's to achieve those goals are different, socialists still believe in collectivism. That if you give people too much liberty, they'll either take advantage of it. Or not know what to do with it, which is one reason for the need for high Tax Rates. In Sweden and Britain, someone could be paying as much as 60-70% in taxes and that the Private Sector simply can't be trusted to perform certain services. Because of its Profit Motive, so you need the Federal Government to step in and take control of those services. Like Healthcare, Health Insurance, Education, Pension etc and that you need the Welfare State. Again financed through high Tax Rates to be generous to lave a level Playing Field.
The goals and principles of socialism will always be the same, a collectivist not individualist Political Ideology, unlike liberalism. That you need a very strong Central Government to provide basic Human Services. To prevent society from being as unequal as possible and that the Private Sector simply can't be trusted to perform certain Human Services. Which is why you need a strong Central Government to perform these services. But that the policy's to achieve these goals are different from the past, recognizing that the old policy's. Don't work and to obtain as much Political Support as possible.