Defining Socialism, Fascism, Communism, Capitalism, Libertarianism
This article focuses on the economic angle; for political angles, see this previous article.
Communism: Government does not allow private businesses or organizations, not even labor unions. Government does everything. Wealth is concentrated in the Nomenklatura, who are communism’s version of billionaire oligarchs.
Socialism: Society prefers using government over private businesses/organizations for big projects and welfare, but the government does tolerate independent private sector…