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Greek philosopher Plato recommended community property ownership by an intellectual ruling class in his work The Republic from the fourth century BC as a way to place the welfare of the state above individual desires and restrain the avarice of the producing classes is Communism.
The term "communism" was first used in the middle of the 19th century to describe an economic and political theory that favored the abolition of private property and the collective sharing of all resources among a group of people; in this usage, the terms "socialism" and "communism" were frequently used interchangeably. Today, the word communism usually refers to the political and economic ideologies originating from Karl Marx's theory of revolutionary socialism, which advocates a proletariat overthrow of capitalist structures within a society; societal and communal ownership and governance of the means of production; and the eventual establishment of a classless society.
- The term "communism" is typically used by English speakers to refer to political and economic theories that have their roots in Karl Marx's theory of revolutionary socialism, which promotes the overthrow of capitalist social structures by the proletariat, collective ownership and control of the means of production, and the eventual creation of a classless society. The Bolshevism of the USSR in the 20th century, which involved the state controlling a society's economic and social activities through a single totalitarian party, is the most well-known example of Marx's theories in practice.
- A classless society in which all property and wealth are collectively owned rather than being owned by individuals is what communism calls for.
- Karl Marx and Friedrich Engels created the communist ideology, which is the antithesis of a capitalist one that depends on democracy and the creation of capital to create a society.
- China and the Soviet Union were two prominent instances of communism. The former's economic system failed in 1991, whilst the latter significantly altered it to incorporate features of capitalism.
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