Communism Vs Capitalism
Communism Vs Capitalism
Communism Vs Capitalism
The beliefs of communism, most famously expressed by Karl Marx, center on the idea
that inequality and suffering result from capitalism. Under capitalism, private business
people and corporations own all the factories, equipment and other resources called "the
means of production." These owners, according to communist doctrine, can then exploit
workers, who are forced sell their labor for wages.
The working class — or "proletariat" — must rise up against the capitalist owners, or
"bourgeoisie," according to the ideals of communism, and institute a new society with no
private property, no economic classes and no profits.
Communism is an economic ideology that advocates for a classless society in which all
property and wealth is communally-owned, instead of by individuals.
The communist ideology was developed by Karl Marx and is the opposite of a capitalist
one, which relies on democracy and production of capital to form a society.
Prominent examples of communism were Soviet Union and China. While the former
collapsed in 1991, the latter has drastically revised its economic system to include
elements of capitalism.
CAPITALISM