Socialism--
1. Compare capitalism an economic theory or system in which the means of production, distribution, and exchange are owned by the community collectively, usually through the state. It is characterized by production for use rather than profit, by equality of individual wealth, by the absence of competitive economic activity, and, usually, by government determination of investment, prices, and production levels
2. any of various social or political theories or movements in which the common welfare is to be achieved through the establishment of a socialist economic system
3. (in Leninist theory) a transitional stage after the proletarian revolution in the development of a society from capitalism to communism: characterized by the distribution of income according to work rather than need
Communism--
1. advocacy of a classless society in which private ownership has been abolished and the means of production and subsistence belong to the community
2. any social, economic, or political movement or doctrine aimed at achieving such a society
3. ( usually capital ) Marxism Marxism-Leninism See also socialism a political movement based upon the writings of Marx that considers history in terms of class conflict and revolutionary struggle, resulting eventually in the victory of the proletariat and the establishment of a socialist order based on public ownership of the means of production
4. ( usually capital ) a social order or system of government established by a ruling Communist Party, esp in the former Soviet Union
5. chiefly ( US ) ( often capital ) any leftist political activity or thought, esp when considered to be subversive
6. communal living; communalism
Capitalism--
Also called: private enterprise an economic system based on the private ownership of the means of production, distribution, and exchange, characterized by the freedom of capitalists to operate or manage their property for profit in competitive conditions.
NOTE: The first two define the Left in this country, and the last defines the conservative right. The left has a hard time excepting the correct definition of these words, so I constantly have to show the definitions of them so they can't redefine them to fit their agenda like they do on a consistent basis in order to attempt to vilify conservatives.