Economic
and political structure like socialism and communism promote equality which aim
to eliminate social classes but, these two are quite different. According to Karl
Marx, socialism is a response to capitalism while communism is a result of the Russian
Revolution. Socialism was proposed by economists as a theoretical ideal but was
neither put into action nor to practice and communism in 1900s became the
dominant economic system. In actual sense, communism is a certain form of
socialism which is practiced in several modern democracies in Western Europe
today. Socialism permits private ownership of property or businesses, but communism
has the government take control in all property.
