communism

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communism

a political and economic doctrine that advocates that the state should own all property and organize all the functions of PRODUCTION and EXCHANGE, including LABOUR. Karl MARX succinctly stated his idea of communism as ‘from each according to his ability, to each according to his needs’. Communism involves a CENTRALLY PLANNED ECONOMY where strategic decisions concerning production and distribution are taken by government as opposed to being determined by the PRICE SYSTEM, as in a market-based PRIVATE ENTERPRISE ECONOMY. China still organizes its economy along communist lines, but in recent years Russia and other former Soviet Union countries and various East European countries have moved away from communism to more market-based economies.
References in periodicals archive ?
Estionsenibh vent augue dio con tat luptat volorem veril susci er | SEQUAM, commy nos iustiscipit aut laor secte nonum ip eu feu feugiat modigna facipsum zzrilis ipsusci ncincillam, ad min ero dip exer ip ut irit in henisisi tat.
Estionsenibh vent augue dio con eriure tat luptat volorem veril susci er | SEQUAM, commy nos iustiscipit aut laor secte nonum ip eu feu feugiat modigna facipsum zzrilis ipsusci ncincillam, commy ad min ero dip exer ip ut irit in henisisi tat.
Estionsenibh et nonsectet vent augue dio con eriure volore tat luptat volorem veril ut laorper susci er | SEQuam, commy nos nullam iustiscipit aut laor secte commy nonum ip eu feu feugiat dui et ad modigna facipsum zzrilis amcor ipsusci ncincillam, commy nos alis ad min ero dip exer ip eugue et alit ut irit in henisisi tat.