CAPITALISM COMMUNISM SOCIALISM
cap·i·tal·ism
ˈkapədlˌizəm/
noun
an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
com·mu·nism ˈkämyəˌnizəm/Submit noun a political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs.
so·cial·ism
ˈsōSHəˌlizəm/
noun
a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
synonyms:leftism, welfarism; More
policy or practice based on the political and economic theory of socialism.
synonyms:leftism, welfarism; More
(in Marxist theory) a transitional social state between the overthrow of capitalism and the realization of communism.
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