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cap·i·tal·ism
/ˈkapədlˌizəm/
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 era of free-market capitalism"com·mu·nism/ˈkämyəˌnizəm/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.so·cial·ism/ˈsōSHəˌlizəm/noun
- a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.Similar:
- policy or practice based on the political and economic theory of socialism.Similar:
- (in Marxist theory) a transitional social state between the overthrow of capitalism and the realization of Communism.
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