Communism is a political and economic ideology that positions itself in opposition to liberal democracy and capitalism, advocating instead for a classless system in which the means of production are owned communally and private property is nonexistent or severely curtailed.

How does communism function?

Communism is a classless social system with one form of public ownership of the means of production and with full social equality of all members of society. ... In the highest phase of communism the directly social character of labor and production will become firmly established.

Is communism a form of socialism?

Communism is usually distinguished from socialism since the 1840s. The modern definition and usage of socialism settled by the 1860s, becoming the predominant term among the group of words associationist, co-operative and mutualist which had previously been used as synonyms.