quick look
Communism Vs. Socialism
In both communism and socialism, the people own the factors of economic production. The main difference is that under communism, most property and economic resources are owned and controlled by the state (rather than individual citizens); under socialism, all citizens share equally in economic resources as allocated by a democratically-elected government. This difference and others are outlined in the table below.
| Communism vs. Socialism | ||
|---|---|---|
| Attribute | Communism | Socialism |
| Basic Philosophy | From each according to his ability, to each according to his needs. | From each according to his ability, to each according to his contribution. |
| Economy Planned By | Central government | Central government |
| Ownership of Economic Resources | All economic resources are publicly owned and controlled by the government. Individuals hold no personal property or assets. | Individuals own personal property but all industrial and production capacity is communally owned and managed by a democratically elected government. |
| Distribution of Economic Production | Production is intended to meet all basic human needs and is distributed to the people at no charge. | Production is intended to meet individual and societal needs and distributed according to individual ability and contribution. |
| Class Distinction | Class is abolished. The ability to earn more than other workers is almost nonexistent. | Classes exist but differences are diminished. It is possible for some people to earn more than others. |
| Religion | Religion is effectively abolished. | Freedom of religion is allowed. |