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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in classic literature ?
Many and many a time she might rule the Autocrat of Russia, whose lightest word is law to seventy millions of human beings!
As a general thing, we have been shown through palaces by some plush- legged filagreed flunkey or other, who charged a franc for it; but after talking with the company half an hour, the Emperor of Russia and his family conducted us all through their mansion themselves.
An invitation was extended to us to visit the palace of the eldest son, the Crown Prince of Russia, which was near at hand.
The Grand Duke is the third brother of the Emperor, is about thirty-seven years old, perhaps, and is the princeliest figure in Russia. He is even taller than the Czar, as straight as an Indian, and bears himself like one of those gorgeous knights we read about in romances of the Crusades.
When it was announced that we were going to visit the Emperor of Russia, the fountains of his great deep were broken up, and he rained ineffable bosh for four-and-twenty hours.
Once, while he was looking at Antonia, he sighed and told us that if he had stayed at home in Russia perhaps by this time he would have had a pretty daughter of his own to cook and keep house for him.
With us in Russia the church is so identified with oppression, that it seems almost necessary when one wishes to be free in this life, to give up all hope of a future existence.
There is neither peace nor rest in Russia for one but in the grave.
"Not in Russia," she breathed out so low that I only just caught the words.
"But lost people do turn up even in Russia. Do you know what my last hope is?
I observed the three weeks' old number of the Standard folded with the correspondence from Russia uppermost, lying on a little table by the side of the armchair.
Some 7.76 percent of the total foreign trade turnover of Azerbaijan in January-July 2019 accounted for the trade operations with Russia.