noun
an economic and political system in which all property is publicly owned and each person works and is paid according to their abilities and needs
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Communism is a political and economic ideology that seeks to establish a classless society.
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Some people think communism is a good idea in theory, but difficult to implement in practice.
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Communism is like sharing everything with your friends, but on a national scale.
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In the business world, some see monopolies as a form of economic communism where one entity controls everything.