Table of Contents
What is Communism?
Communism is a political and economic society that wishes to create a classless society that is based on the socioeconomic order of common ownership.
It is a centrally planned economy that has only a single authority, the government. It takes all responsibility regarding the production and supply of goods.
In these countries, everything is managed by the government, and its goal is to give to “each according to his need”.
These types of states are in favour of people. They have free health care, education, and other services. This system also seeks to improve the nation’s economic growth.
Private property is replaced by public property. All means of production-buildings, machinery, tools, and labor are communally owned instead of by individuals.
The main examples of Communism are the Soviet Union, China, and Yugoslavia. They developed their ideas of Communism, which vary from each other over time.
What is Socialism?
Socialism is a political, democratic, and economic system based on the common or public ownership of the means of production.
It is a cooperative system in which each individual owns a share of resources.
This system establishes the economy through planning instead of market forces and raises production towards the individuals’ needs despite the earning profit.
According to the socialist view, people do not live or work separately but cooperate with one another.
Additionally, in some sense, every product that individuals produce is a social product, therefore, everyone contributing to production has the right to share in it.
Individuals should own or at least have control over the property for the welfare of all its members in society as a whole.
In a purely socialist society, collective planners or the government make all manufacturing and marketing decisions.
Socialists thought that mutual ownership of resources and central planning serves equally sharing products and services and a more balanced society.
Difference Between Communism and Socialism
- Most properties and resources of the country are controlled by the state in Communism. In socialism, all individuals equally share the resources.
- There is no tax on any individual in Communism. But in socialism, the one who earns a high amount has to pay taxes.
- Both Communism and socialism are against capitalism, but socialism prioritizes hard workers.
- Freedom of religion is prohibited in Communism, whereas in socialism, everyone is free to choose their religion.
- In Communism, everyone gets resources according to their ability and needs. But in socialism, every individual gets resources according to their abilities and contribution.
Comparison Between Communism and socialism
|Parameter of comparison||Communism||Socialism|
|Origin||The concept of modern-day Communism was established in 1848 by German philosopher Karl Max||Charles Fourier, a French philosopher, was one of the founders of socialism|
|Concept of private property||Individuals do not have their private property||Individuals have their private property|
|Distribution of products||Production is planned to meet all human needs and is distributed at no cost||Production is planned to meet individual and societal needs and distributed according to their abilities and contribution|
|Thoughts about war||They believe that war is necessary for the economy but should be avoided||Socialists believe that war is good for the economy, for spurring the production|
|Welfare||Supports common universal welfare with attention to individual health and education||Government is responsible for the welfare of society without any differentiation|