1. a political and economic system in which property and goods are owned by the community as a whole rather than by individuals
2. a theory or system of social organization based on the holding of all property in common, with actual ownership ascribed to the community or state
Usage: political theory

Examples

• The book explained the basic principles of communism.
• Many countries experimented with communism during the 20th century.
• Under communism, factories would be owned by the state.
• The professor discussed the differences between capitalism and communism.
• Karl Marx wrote extensively about communism as an economic theory.
• The fall of communism in Eastern Europe changed the political landscape.