Com·mu·nism (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.
–  doctrine based on revolutionary Marxian socialism and Marxism-Leninism that was the official ideology of the U.S.S.R.
– a totalitarian system of government in which a single authoritarian party controls state-owned means of production
– a final stage of society in Marxist theory in which the state has withered away and economic goods are distributed equitably
– communist systems collectively eliminating of private property

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Socialism (noun)
– a political and economic theory (policy or practice) of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
– (in Marxist theory) a transitional social state between the overthrow of capitalism and the realization of communism.

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cap·i·tal·ism (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.
–  an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market

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