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[–]MostlySunnySkies 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

https://www.britannica.com/topic/socialism

Socialism, social and economic doctrine that calls for public rather than private ownership or control of property and natural resources.

https://www.merriam-webster.com/dictionary/socialism

any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods 2a: a system of society or group living in which there is no private property b: a system or condition of society in which the means of production are owned and controlled by the state

https://www.thebalance.com/socialism-types-pros-cons-examples-3305592

Socialism is an economic system where everyone in society equally owns the factors of production.

https://www.investopedia.com/ask/answers/020915/what-are-differences-between-capitalism-and-socialism.asp

KEY TAKEAWAYS Capitalism is a market-driven economy. The state does not intervene in the economy, leaving it up to market forces to shape society and life. Socialism is characterized by state ownership of businesses and services. Central planning is used to attempt to make society more equitable. Most countries are mixed economies, falling in between the extremes of capitalism and socialism.

There pages have nice tables or infographics:

https://www.thebalancesmb.com/the-characteristics-of-capitalism-and-socialism-393509

https://www.economicshelp.org/blog/glossary/capitalism-v-socialism/

What you're calling Communism is actually Socialism. What is Communism? It's the end of private property, period. Everything is held communally.

Communism is this:

https://www.history.com/news/socialism-communism-differences

Both socialism and communism are essentially economic philosophies advocating public rather than private ownership, especially of the means of production, distribution and exchange of goods (i.e., making money) in a society. Both aim to fix the problems they see as created by a free-market capitalist system, including the exploitation of workers and a widening gulf between rich and poor.

Under communism, there is no such thing as private property. All property is communally owned, and each person receives a portion based on what they need. A strong central government—the state—controls all aspects of economic production, and provides citizens with their basic necessities, including food, housing, medical care and education.

By contrast, under socialism, individuals can still own property. But industrial production, or the chief means of generating wealth, is communally owned and managed by a democratically elected government.

https://www.dictionary.com/e/socialism-vs-communism/

Communism, on the other hand, is a branch of socialism. It’s similar in that it’s still founded on the idea of collective cooperation, but differs in that communists believe that cooperation should be run by a totalitarian government made up of one and only one government.

(amusingly, the last site claims "the USSR gave Communism a bad name..." lol)

https://www.dailydot.com/debug/communism-vs-socialism-simple-terms/

What is communism? Communism is a social and economic organizing system in which property is communally owned and every person receives wealth according to their needs and ability.

What is socialism? Socialism is an economic theory in which the means of production, distribution, and exchange are owned and controlled by society as a whole.

https://libcom.org/forums/theory/there-any-private-property-under-socialismcommunism-22022012

In communism, the end of relations based on force, on violence and the universal antagonism of each against all … will presuppose the end of ownership rights over people and things. The abolition of private property means putting an end to their foundations: the domination of the “other” (man or nature); appropriation, which only perceives the other in relation to utility; and the generalized degradation of the relations between men and also between the latter and nature. One will no longer be able to “use and abuse” something, whatever it is, just because one owns it. Nothing will belong to anybody anymore.

[–]Jesus 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Capitalism is a market-driven economy. The state does not intervene in the economy...

Bye, bye America. Cronyist corporatism fuels the American dream. Classical economics using silver certificates from an indepedent treasury is what freedom, liberty and privacy call for.