Similarities Of Communism And Communism

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Comparison of Communism and Socialism
Introduction:
Communism and Socialism which are regarded as the two different shades of Marxism are often used inter-changeably. Both the systems are opposed to the capitalistic system and share some similarities as well as differences in their approaches. The theory of Communism developed by German philosopher Karl Marx, is both a political and an economic system that is based on the collective ownership of the production of goods. The word Communism has been originated from a Latin word meaning “common”. Communism rejects individual ownership of industry, and promotes the production of goods in order to satisfy the basic needs of the economy and the people. In communist societies, manufacturing goods
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Socialism is a theory or system of social organization based on the holding of most property in common which promotes that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
Key Proponents Karl Marx, Fredrik Engels, Vladimir Lenin, Leon Trotsky. Robert Owen, Pierre Leroux, Karl Marx, Fredrick Engels, John Stuart Mill, Albert Einstein, George Bernard Shaw, Thorstein Veblen, Emma Goldman.
Concept of State According to Marxian point of view, communism regards state as a negative institution that has been instrumental in the exploitation of the oppressed classes at the hands of the wealthy classes. Thus, communism wants to abolish state structure after attaining the goal of classless society. On the other hand, the exponents of socialism regard state as a positive institution which can effectively implement the economic principles of socialism. They believe that the rights of the wage-earners are better safeguarded when all economic activities are carried out within the rules and regulations enacted by the
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