Communism: a social system advocating the absence of classes, the common ownership of the means of production and subsistence, and the equitable distribution of economic goods.

“Communism” is derived from the Latin word communis, which means “common, belonging to all.” Like socialism, communism claims that free enterprise leads to unemployment, poverty, business cycles, and labor-management conflicts. The solution to these problems is to distribute the nation’s wealth more equally and justly.