Communism vs Capitalism - What's the difference?
communism | capitalism |
Any political philosophy or ideology advocating holding the production of resources collectively.
Any political social system that implements a communist political philosophy.
The international socialist society where classes and the state no longer exist.
(politics, uncountable) 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.
(economics, uncountable) a socio-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.
(countable) a specific variation or implementation of either such socio-economic system.