communism
noun [ U ]
POLITICS, ECONOMICS uk/ˈkɒmjʊnɪzəm/ us(also Communism)a political theory that believes that the state should control the methods of production, there should be no separate social classes and everyone should be treated equally:
the ideology of communism
Compare
capitalism
a political and economic system that is officially based on this theory:
The book deals with the realities of life under Communism in the former Soviet Union.