Which countries are run by socialism?

Which countries are run by socialism?

Marxist–Leninist states

Country	Since	Party
People’s Republic of China	1 October 1949	Communist Party of China
Republic of Cuba	1 January 1959	Communist Party of Cuba
Lao People’s Democratic Republic	2 December 1975	Lao People’s Revolutionary Party
Socialist Republic of Vietnam	2 September 1945	Communist Party of Vietnam

What is the goal of communism?

Communism (from Latin communis, ‘common, universal’) is a philosophical, social, political, and economic ideology and movement whose goal is the establishment of a communist society, namely a socioeconomic order structured upon the ideas of common ownership of the means of production and the absence of social classes.

What is the basic difference between socialism and communism?

The primary difference between communism and socialism is that communism is a political system and socialism is chiefly an economic system.

What does communism and socialism really mean?

Both socialism and communism are essentially economic philosophies advocating public rather than private ownership, especially of the means of production, distribution and exchange of goods (i.e., making money) in a society.

What are the common goals of socialism and communism?

The common goals between socialism and communism are that everything is distributed between people depending on what they do. Everything runs smoothly as a whole, everyone contributes and receives the same amount.

Is communism and socialism the same thing?

Communism and socialism are economic and political structures that promote equality and seek to eliminate social classes. The two are interchangeable in some ways, but different in others. In a communist society, the working class owns everything, and everyone works toward the same communal goal.