communism
//ˈkɒm.jʊ.nɪ.zəm//
Noun
1
A political and economic ideology advocating for collective ownership of the means of production, the abolition of private property, and a classless society.
Communism aims to create a society where all property is publicly owned.
2
A system of government in which the state controls the economy and a single party holds power, claiming to represent the working class.
Under communism, the government controlled all major industries and private ownership was limited.