Quick Answer: What Is Another Name For A Communist Economy?

What is a antonym for communism?

Antonyms & Near Antonyms for Communism.

democracy, self-governance, self-government, self-rule..

What is another name for a free market economy?

The term “free market” is sometimes used as a synonym for laissez-faire capitalism. When most people discuss the “free market,” they mean an economy with unobstructed competition and only private transactions between buyers and sellers.

What is the main aim of socialist economy?

The goal of socialist economics is to neutralize capital, or in the case of market socialism to subject investment and capital to social planning, to coordinate the production of goods and services to directly satisfy demand (as opposed to market-induced needs) and to eliminate the business cycle and crises of …

What countries are currently socialist?

Marxist–Leninist statesCountrySinceHead of partyPeople’s Republic of China1 October 1949Xi Jinping (since 2013)Republic of Cuba1 January 1959Raúl Castro (since 2011)Lao People’s Democratic Republic2 December 1975Bounnhang Vorachith (since 2016)Socialist Republic of Vietnam2 September 1945Nguyễn Phú Trọng (since 2011)

What does socialism mean in simple terms?

Socialism is an economic and political system. It is an economic theory of social organization. It that the means of making, moving, and trading wealth should be owned or controlled by the workers.

What is another name for communist?

In this page you can discover 43 synonyms, antonyms, idiomatic expressions, and related words for communist, like: commie, card-carrying communist, Party member, comrade, fellow traveler, member of the Communist Party, C.P. member, apparatchik, sympathizer, marxist and socialist.

What is the other name of socialist economy?

noun. Synonyms. communism International Naziism national socialism Nazism managed economy socialism.

What is another name for a capitalist economy?

Other synonyms: laissez-faire economy, market economy, Private Enterprise, free enterprise.

Is Socialism another word for communism?

Communism and socialism are umbrella terms referring to two left-wing schools of economic thought; both oppose capitalism. These ideologies have inspired various social and political movements since the 19th century.

What are the 5 main characteristics of capitalism?

Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property and the recognition of property rights, voluntary exchange and wage labor.

Who wrote The Wealth of Nations?

Adam SmithThe Wealth of Nations/Authors

What is Marxism in simple terms?

Marxism is a political and economic way of organizing society, where the workers own the means of production. Socialism is a way of organizing a society in which the means of production are owned and controlled by the proletariat. Marx proposed that this was the next necessary step in the progress of history.

What’s the difference between Marxism and socialism?

Socialism is a post-commodity economic system and production is carried out to directly produce use-value rather than toward generating profit. … Marx’s goal was to design a social system that eliminates the differences in classes between the proletariat and the bourgeoisie.