Socialism
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.
