an economic system in which investment in and ownership of themeans of production, distribution, and exchange of wealth ismade and maintained chiefly by private individuals orcorporations, especially as contrasted to cooperatively or state-owned means of wealth.
noun
1.
a theory or system of social organization based on theholding of all property in common, actual ownership beingascribed to the community as a whole or to the state.
2.
( often initial capital letter 
) a system of social organizationin which all economic and social activity is controlled by atotalitarian state dominated by a single and self-perpetuating political party.
3.
( initial capital letter ) the principles and practices of the Communist party.
noun
1.
( sometimes initial capital letter ) a governmental systemled by a dictator having complete power, forcibly suppressing opposition and criticism, regimenting all industry, commerce, etc., and emphasizing an aggressive nationalism and often racism.
2.
( sometimes initial capital letter ) the philosophy,principles, or methods of fascism.
3.
( initial capital letter ) a fascist movement, especially theone established by Mussolini in Italy 1922–43.
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