A scheme of equalizing the social conditions of life; specifically, a scheme which contemplates the abolition of inequalities in the possession of property, as by distributing all wealth equally to all, or by holding all wealth in common for the equal use and advantage of all.
a theory of revolutionary socialism propounded by Karl Marx and Friedrich Engels, advocating a social and economic organization in which workers rather than financial investors (capitalists) control the means of production and distribution of goods. The utopian goal of this theory is a classless society to which all members contribute by their labor. Attempts to implement such a system by the Soviet Union, China, and other countries were also termed communist, although "in none of these countries had a communist society fully been established," ["communism" Britannica Online] and most have resulted in totalitarian states. Fear of the expansion and influence of these states and of communist ideas motivated U.S. foreign policy during the Cold War.
a political theory derived from Marxism, advocating a society in which all property is publicly owned and each person is paid and works according to his or her needs and abilities.