How does communism differ from capitalism?

Communism differs from capitalism in several ways:

1. Ownership of resources: In communism, all resources and means of production are owned and controlled by the state or the community as a whole. In contrast, capitalism is based on private ownership, where individuals or corporations own and control resources.

2. Economic decision-making: In communism, economic decisions are made centrally by the government or a central planning authority. The state determines what goods and services are produced, how they are produced, and how they are distributed. In capitalism, economic decisions are primarily driven by market forces, with individuals and businesses making choices based on supply and demand.

3. Distribution of wealth: In communism, the principle of "from each according to his ability, to each according to his needs" is followed. This means that wealth is distributed equally among all members of society, regardless of their contribution. In capitalism, wealth distribution is based on market outcomes, where individuals are rewarded based on their productivity and the value they bring to the market.

4. Incentives and motivation: In communism, there is less emphasis on individual incentives and personal gain. The focus is on collective goals and the well-being of the entire society. In capitalism, the pursuit of individual self-interest and profit is a key driving force, as individuals are motivated by the potential rewards and benefits they can obtain.

5. Role of the state: In communism, the state plays a dominant role in controlling and directing economic activities. It is responsible for planning, regulating, and overseeing all aspects of the economy. In capitalism, the state's role is generally limited to providing a legal framework, enforcing contracts, and ensuring fair competition.

Overall, communism and capitalism represent two fundamentally different economic systems, with differing approaches to ownership, decision-making, wealth distribution, incentives, and the role of the state.