Communism is an 

economic and political system which aims to expand a socialist system in

which the community owns and controls the primary factors of production, such as factories and
mills. There is no ruling party or private ownership or money system, and the money is split
equally or according to person.

"Communism" is an umbrella concept which covers a variety of ideas. The modern use of the
word emerged with Victor d'Hupay, a French aristocrat of the 18th century who proposed living
in "communes" in which all assets would be divided, and "everyone can profit from the work of
everyone."

Even though word communism didn't originate into use until the 1840s, when Plato published
the Republic, communities that could be regarded communist were identified as long ago as the
4th century BCE. The work defined an ideal society in which the ruling class is dedicated to
serving the needs of the public as a whole need among community members. Karl Marx, who
explained the scheme with Friedrich Engels in The Communist Manifesto (1848), is most
generally associated with communism.

Marx, Engels, and their supporters, in the Communist Manifesto and further on, promoted (and
projected as traditionally unavoidable) a world revolutionary movement that would open the age
of socialism first, then communism. This ultimate stage of growth would lead to the end of class
politics and therefore of history: without class issues, family units, beliefs, or land, all individuals
would live in social balance.

At one point, almost one-third of the global population lived through communist regimes, most
particularly in the Soviet republics. In only five countries today, communism is the official form
of government: China, North Korea, Laos, Cuba, and Vietnam.

10 Characteristics of Communism in Theory

Marx and co-author Friedrich Engels outlined the following ten points in the Communist
Manifesto.

1. Abolishment of interest of property and application of all rentals of land for public
reasons.
2. Strong democratic or graduated taxes.
3. Abolition of the right of ownership.
4. Confiscation of assets by all immigrant groups and rebel forces.
5. Equal obligation to all workers and the creation to industrial armies (in particular for
agriculture).
6. The eventual elimination of the distinction between city and country.
7. Free education for all children in public schools and abolition of child labor.
8. Centralized control of lending in the hands of the state
9. The State will regulate communications and transport
10. State factories and tools of production will manage wastelands and boost soil.
The document addresses government ownership in its last three parts, which make this
pure concept of communism sound like socialism. But Marx argued that the national
ownership was a legitimate step in the process to communism.
Advantages
Communism has a centrally organized economy; it can rapidly organize large-scale
economic capital, carry out large-scale programs, and build manufacturing strength. It
can move very quickly, that it overrides human self-interest and enslaves the safety of the
general population in order to accomplish vital social objectives.

Disadvantages
Communism 's biggest drawback derives from the removal of the free market. The rules
of supply and demand do not set prices — the government does. Planners miss useful
feedback on what consumers expect from these prices. They cannot get up-to - date
information on the needs of customers and, as a result, there is always a glut of one item
and a lack of another.
To cope, people build an underground market to sell items that planners do not offer,
which undermines faith in Marx's pure communism. Citizens no longer believe that the
government should provide "to everyone according to his needs."