Communism comes under different labels over time, and for the most part how it is described in may economies in recent history is not in reality communism. First is an economic philosophy and system, and not a political system. It is even miss defined in some dictionaries as follows:
The better definition is as follows without the political rhetoric.
Read more: http://www.businessdictionary.com/de...#ixzz3qvrhWwTH
This source goes on to explain the problem with describing recent governments and their economic systems as communist.
These governments and their economic systems are best described as strong authoritarian dictatorships. The economic system is a socialist command economy* centrally planned economy with pretty much absolute state ownership. It is sometimes referred to as State Mercantilism.
I may address later the similar and often associated economic system Socialism later, but for now I will address the issue of communism.
An interesting trivia question: Communism is in reality a very idealistic and unrealistic economic system, but . . .
The most ideal communist economic system is one in the west under the control of the US government. This system was very successful and ended for political reasons, not economic. What was this communist system?
The better definition is as follows without the political rhetoric.
Read more: http://www.businessdictionary.com/de...#ixzz3qvrhWwTH
This source goes on to explain the problem with describing recent governments and their economic systems as communist.
These governments and their economic systems are best described as strong authoritarian dictatorships. The economic system is a socialist command economy* centrally planned economy with pretty much absolute state ownership. It is sometimes referred to as State Mercantilism.
I may address later the similar and often associated economic system Socialism later, but for now I will address the issue of communism.
An interesting trivia question: Communism is in reality a very idealistic and unrealistic economic system, but . . .
The most ideal communist economic system is one in the west under the control of the US government. This system was very successful and ended for political reasons, not economic. What was this communist system?
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