Capitalism vs. Communism

Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property and the recognition of property rights, voluntary exchange and wage labor.

Communism (from Latin communis, 'common, universal') is a philosophical, social, political, and economic ideology and movement whose ultimate goal is the establishment of a communist society, namely a socioeconomic order structured upon the ideas of common ownership of the means of production and the absence of social classes, money, and, in some cases, the state. As such, communism is a specific form of socialism.

An economic system in which the means of production and distribution are privately or corporately owned and development occurs through the accumulation and reinvestment of profits gained in a free market.

A theoretical economic system characterized by the collective ownership of property and by the organization of labor for the common advantage of all members.

(politics) A socio-economic system based on private ownership of resources or capital.

A system of government in which the state plans and controls the economy and a single, often authoritarian party holds power, claiming to make progress toward a higher social order in which all goods are equally shared by the people.

(economics) An economic system based on private ownership of the means of production and their operation for profit.

The Marxist-Leninist doctrine advocating revolution to overthrow the capitalist system and establish a dictatorship of the proletariat that will eventually evolve into a perfectly egalitarian and communal society.

A socio-economic system based on private property rights, including the private ownership of resources or capital, with economic decisions made largely through the operation of a market unregulated by the state.

Any far-left political ideology or philosophy advocating holding the production of resources collectively, especially by seizing it through revolution.

An economic system based on the abstraction of resources into the form of privately owned capital, with economic decisions made largely through the operation of a market unregulated by the state.

Any political social system that implements a communist political philosophy.

An economic system based on predominantly private (individual or corporate) investment in and ownership of the means of production, distribution, and exchange of goods and wealth; contrasted with socialism or especially communism, in which the state has the predominant role in the economy.

The international socialist society where classes, money, and the state no longer exist.

an economic system based on private ownership of capital

A scheme of equalizing the social conditions of life; specifically, a scheme which contemplates the abolition of inequalities in the possession of property, as by distributing all wealth equally to all, or by holding all wealth in common for the equal use and advantage of all.

a form of socialism that abolishes private ownership

a political theory favoring collectivism in a classless society