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Communism and socialism are both opposites of capitalism. Equality and the working class owning everything is the main goal. However they are not equal. Communism is a extreme form of socialism.

What is the difference between Communism and Socialism?

 Investopedia.com | Updated November 7, 2016 — 3:51 PM EST

 

 

The Difference Between Communism and Socialism

 

A:

Communism and socialism are economic and political structures that promote equality and seek to eliminate social classes. Sometimes, the two are used interchangeably, though they are quite different. In theory, socialism and communism sound appealing, with everyone doing their share and working together to provide for the greater good. Each utilizes a planned production schedule to ensure the needs of all community members are met. They are utopian economic structures that some countries have tried; however, most have failed or become dictatorships, making reform nearly impossible.

In a communist society everything is owned by the working class and everyone works toward the same communal goal. There are no wealthy and poor classes. Instead, all are equal. Production from the community is distributed based upon need, not by effort or amount of work. It is expected that basic needs for each worker are met by the community, and there is no more to be obtained through working more than what is required. For example, if a worker puts in more time at work, he sees no additional reward, and production is minimally affected. The worker receives the same stipend and ration as before. Therefore, this type of economy often results in poor production, mass poverty and little advancement. This occurred in the 1980s to the Soviet Union when poverty became so widespread, and rebellions and revolutions caused a dissolution of the nation.

Socialism shares similarities to communism but to a lesser extreme. . Instead of the workers owning the facilities and tools for production, workers are paid and allowed to spend their wages as they choose, while the governing body owns and operates the means of production for the benefit of the working class.

The Soviet union was a communist state. Why they called themselves socialist is debatable.

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