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English definition of “communism”

communism

noun [U]     /ˈkɒmjʊnɪzəm/ (also Communism) POLITICS, ECONOMICS
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 .
(Definition of communism noun from the Cambridge Business English Dictionary © Cambridge University Press)
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