Communism

A system of social organization based on the holding of all property by the community or the state, which plans and controls the economy under a one-party political structure

Theoretically, the term “communism” denotes “systems of social organization based upon common property, or an equal distribution of income and wealth.” In current practice, communism is a system of government based on the holding of property by the state, which controls the economy under a one-party political structure.