Capitalism is an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market. Communism is a theory advocating elimination of private property, a system in which goods are owned in common and are available to all as needed, a final stage of society in Marxist theory in …showed first 75 words of 908 total…

…showed last 75 words of 908 total…suffered huge losses during the First World War, the Russian Revolution of 1917 and W.W.II. The original communists hoped to have a classless society where there was no rich or poor, and this was what was so appealing to the people of Russia and what had become the Soviet Union. The people of Russia and the Soviet Union had suffered greatly during the first world war, the Russian Revolution of 1917 and W.W.II.