What are the economic & political differences between communism & democracy?

It is commonly understood that communism is the last phase of socialist theory. With the passing of the years and the appearance of new socio-political and economic models, both ideological tendencies have diverged. Greater thanks to new mixed perspectives and coexistence with the capitalist and free market model.

The main differences between socialism and communism in terms of economic systems will reside especially in the way in which aspects such as government control of economic activity and ownership of production factors, the higher level of free competition in their markets and the state regulation in social matters.

In this sense, it tends to consider that although a communist model is stricter from the governmental point of view, countries with socialist models have evolved to a greater or lesser extent towards social democratic models. Models, in this sense, more adapted to free trade or the existence of greater defense of private property and less role and influence of the State.

Explanation:

Communism is a political and economic system that seeks to create a classless society in which the major means of production, such as mines and factories, are owned and controlled by the public.