Compare and Contrast Communism, Socialism, and Capitalism

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What is communism? Communism is a term used broadly to designate a ‘theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community as a whole or to the state.’ It refers to the doctrine which underlines the revolutionary movement which aims to abolish capitalism and ultimately to establish a society in which all goods will be socially owned, all economic activates socially planned and controlled, and in which all distributions will be in accordance with the maxim. German author Emil Ludwig described the maxim as “for each according to his capacity, to each according to his need.”(1) It is to be distinguished from socialism which aims by constitutional and democratic…show more content…
As mentions before socialism is the doctrine that espouses public ownership or control of a major means of production. It aims to achieve an equitable and efficient distribution of social goods and greater economic planning then exist under capitalism. Although the central concerns of socialism appears to be economic its ramifications extend to the moral, social and political realms, in fact together with nationalism, it is the leading ideological and political movement of the 20th century.
It is considered to be the transitional phase between the capitalism and communism. Thus, you would find all communists advocating for socialism because it lays the foundations for communism. It advocates an egalitarian society where everyone shares equal wealth and power. There is a considerable disagreement over how the distribution should take place. Hence, socialism can be said to be between extreme capitalism and extreme communism with it being nearer to communism.
Socialism is liberal. More people have say in how the economy works. (5) The basic principles of contempary socialism have their origin in the economic, social and cultural transformations of Europe which occurred during the 18th and 19th centuries. Contributing factors were the Industrial Revolution and the rise of the bourgeois’ and proletarian classes, the enlightenment’s secular and rationalistic view of men and society, and the democratic demands of the French Revolution. Social ownership and
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