what is socialism vs communism

9 months ago 28
Nature

Communism and socialism are political and economic systems that are related but often confused with each other. Both reject capitalism in favor of greater equality and granting economic power to the working class. One key difference is that communism calls for the transfer of power to the working class through revolutionary means, while socialism advocates for a gradual internal change. Communism envisions a society without class divisions or government, where the production and distribution of goods are based on the principle "From each according to his ability, to each according to his needs." Socialism, on the other hand, allows for the continued existence of capitalism in some parts of the economy and can coexist alongside capitalism in a society. In summary, communism is more radical and aims for a classless, stateless society, while socialism is a broader spectrum of political beliefs that emphasize a fair distribution of wealth and public ownership of the means of production