BBA-205 Unit-2 Business Environment
WHAT EXACTLY IS COMMUNISM?
  • The communist ideology was developed by German philosopher Karl Marx and Friedrich Engels and is the opposite of a capitalist one, which relies on democracy and production of capital to form a society.
  • The term “communism” was derived from the Latin word meaning “universal” or “common”. As an ideology, it encompasses social, political and economic attributes which aims to create a society of equality devoid of social classes, money and state. Communism is an economic ideology that advocates for a classless society in which all property and wealth are communally owned, instead of by individuals.
  • It was first used in the mid-19th century, then it was often used interchangeably with the word socialism.
  • Its goal is to provide education and health care to all citizens with an ideology of common ownership.
  • Communism is a political ideology that is still present in a few countries across the globe, the most prominent one being China.
  • Communism is a political system in which all production is communally owned, and private property is almost non-existent. In fact, communism can be regarded as a more extreme form of socialism.
  • “The theory of Communism may be summed up in one sentence: Abolish all private property.”– Karl Marx, Philosopher
  • Karl Marx, the German political philosopher and economist who would become one of the most influential socialist thinkers in history. With his collaborator Friedrich Engels, Marx published The Communist Manifesto in 1848, which included a chapter criticizing those earlier socialist models as utterly unrealistic “utopian” dreams.
  • The political system in which the state owns and controls all factories, farms, services, etc. and aims to treat everyone equally.

 

What countries are communist?

  • The countries of China, Cuba, Vietnam, Laos, and North Korea are the existing countries typically identified as being communist.