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Difference Between Communism and Socialism

Main difference

The difference between communism and socialism is that communism is an economic and political system that aims to distribute resources to each person according to their needs, and socialism is an economic system that aims to distribute resources to each person according to their needs. his facts.

communism vs socialism

The economy of the nation is directly associated with the political system. The people in power decide what kind of economic system will prevail. Over the years, different economic systems are being observed around the world. Capitalism, socialism, Islamic and mixed economic systems are some of the prominent examples of different economic systems. Here we will differentiate between socialism and communism, which are very similar and that communism is the subset of socialism. In other words, we can say that the highest degree of socialism that is affiliated with both politics and economics is called communism. Socialism is the economic system in which the community owns and regulates the factors of production, distribution, and other economic activities within the country. On the other hand,

Comparison chart

Communism Socialism
A theory or system of social organization in which all property is owned by the community and each person contributes and receives according to their ability and needs is called communism. A political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole is known as socialism.
own personal property
No Yes
Capitalism
Communism completely abolished capitalism. In socialism, communism exists in some way.
Target
The main goal of communism is to build a classless society and abolish capitalism. The main idea of ​​socialism is to promote justice and equality among members of society.
Resource management
As communism also has a strong affiliation with the political system, in it, the management of resources is carried out by elected people. In socialism, the management of resources is carried out by the different people in society.

What is communism?

Communism is the political and economic theory of social organization in which the community owns all the property. The idea of ​​communism is quite similar to that of socialism as they both aim to empower the community rather than individuals. The real-time difference between the two is that communism is the highest or extreme degree of socialism, which aims to build a classless society. It’s more of the political system, and the elected or elected people are in control of this entire economic system. Socialism may have a little touch of capitalism in some cases as it relaxes the individual to own personal property of it, but communism is exactly the antonym of capitalism which promotes classless society. People distribute wealth according to their needs. The word communism belongs to the Latin origin, which means ‘common’. ‘The word common here denotes that the common people own the resources, the wealth and the property. In the 1980s, the Soviet Union adopted this concept when they were deep in poverty.

What is socialism?

Socialism is the economic and political system that first entered the mainstream in the 18th century.century in France. As we know, all of Europe, especially France, witnessed several revolutions; people were looking for a better economic system that could benefit society as a whole. People became more knowledgeable about rights at this time, and instead of individual rights, people were asking for more equal rights. The sole purpose of this economic system that was put into practice was the strict surveillance of the economic activities by the government itself and the distribution of the market share among the people in such a way as to bring socio-economic harmony among the classes of all people. . In socialism, the government owns different economic activities and the government itself regulates factors such as production and distribution. Prices and production values ​​are decided by the government and the benefit to individuals is less in this case, since in this case a larger part of the benefit is owned by society. The equitable distribution of profits or income in this economic system was the notable step in bridging the differences between rich and poor living within the society.

Key differences

  1. A theory or system of social organization in which all property is owned by the community and each person contributes and receives according to their ability and needs is called communism. On the other hand, a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole is known as socialism.
  2. In communism, people are not allowed to own property, while in socialism people can own personal property.
  3. Communism completely abolished capitalism while in socialism communism exists in some form.
  4. The main goal of communism is to build a classless society and abolish capitalism. On the other hand, the main idea of ​​socialism is to promote justice and equality among the members of the society.
  5. As communism also has a strong affiliation with the political system, in it the management of resources is carried out by elected people. Contrary to this, in socialism, the management of resources is done by the different people in society.

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