Government Defining Capitalism, Communism, Fascism, Socialism

Government Defining Capitalism, Communism, Fascism, Socialism

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Term Definition
Capitalism In common usage, the word capitalism means an economic system in which all or most of the means of production are privately owned and operated
Socialism Most generally, socialism refers to state ownership of common property, or state ownership of the means of production. A purely socialist state would be one in which the state owns and operates the means of production.
Communism Most generally, communism refers to community ownership of property, with the end goal being complete social equality via economic equality. Communism is generally seen by communist countries.
Fascism Most generally, “a governmental system led by a dictator having complete power, forcibly suppressing opposition and criticism, regimenting all industry, commerce, etc., and emphasizing an aggressive nationalism and often racism.”

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