Do you have to have money in communism?

Do you have to have money in communism?

That almost certainly implies Marxism. Communism is not anticipated to have money after it has matured. Individuals would possess nothing in a truly communist society (which has never occurred above the commune level). Everything would be owned by society. Currency would be unnecessary.

However, this does not mean that everyone would be equal under communism. Leaders would still exist who could be trusted with control of these funds. In fact, it is expected that they would make use of their power to accumulate wealth rather than distribute it.

In conclusion, yes, you do need money to live in communism.

How do salaries work in communism?

Because they are fundamentally distinct economic systems, salaries and earnings in a communist nation must be considered wholly different from those in a capitalist society. You get compensated based on the quality and amount of your work. There is no money or currency in a pure communist society. Only what you need to survive comes from your job, and this would include any form of payment.

In Marxist-Leninist theory, there are two main sources of income for individuals in a communist society. The first is what we call "means of production", which includes land, factories, tools, and other capital goods. When someone owns means of production, they can use them themselves or rent them out to others. The second source of income is what we call "social product". This is all the material wealth that is produced by everyone in the community together - the fruits of science and technology, as well as the output of people's labor. Everyone has an equal share of the social product. There is no way to earn more of it because it is shared among all members of the community.

In practice, most communist nations have combined some form of capitalism with socialism. This means that there is still an elite group of people who own the means of production, but many more people are now also able to receive compensation for their labor. In some cases, these workers may even be given part ownership of the businesses they work for.

How is the economy supposed to work under communism?

According to a famous Marxist phrase, the economy would work "from everyone according to his capacity, to each according to his needs." Comunism is an economic theory that argues for a classless society in which all property and riches are owned collectively rather than individually. Under this system, money and credit would be eliminated from daily life and trade would be conducted directly between members of the community without use of currency or banks.

In practice, communist economies have not worked as intended because it is impossible to satisfy everyone's needs with limited resources. As a result, some people will always have more than others. There must also be incentives for people to work since there will be no government support for those who do not. Thus, some form of capitalism will always exist even under a communist system.

Capitalism is the economic system that favors free enterprise and private ownership of businesses. It requires that resources such as land and labor be transformed into products that can be traded for other goods and services.

Under capitalism, people are free to choose what job to take and how to run their business. If someone wants to start their own company they can do so if they can find customers who want their product or service.

In communist countries such as China, Russia, and Vietnam, the economy was originally controlled by private companies but was later taken over by the government.

How does money work in a communist country?

There is no government, private property, or money, and wealth is distributed equally or based on individual need. Many of communism's beliefs are derived from the works of the German revolutionary Karl Marx, who co-wrote The Communist Manifesto with Friedrich Engels (1848). They believed that history was moving toward a single global society dominated by science and technology, so called "the new man". This would abolish all class divisions and enable people to live in harmony; there would be no need for state authority.

In practice, however, most countries have not implemented communism, but instead adopted various forms of socialism. These countries include China, Vietnam, Laos, Cambodia, Russia, India, Nepal, North Korea, and Cuba.

Socialism aims to provide security for its citizens by eliminating poverty, inequality, and discrimination. It also seeks to maintain a reasonably level economic environment by controlling the market and setting production targets. Finally, it tries to ensure the future viability of the system by turning over ownership of major industries to the government or trade unions.

Under socialism, basic necessities such as food, water, health care, housing, and energy are provided by the state. Some countries with a socialist economy, such as Russia and China, also have private businesses that operate under state control, but others such as Vietnam and Cambodia have only state-run enterprises.

About Article Author

Anne Patterson

Anne Patterson is a former federal prosecutor who has spent her career fighting crime and working to protect people's rights. She has tried cases in both state court and federal court. Anne knows that justice does not always come quick or easy, but she is committed to doing her job well and standing up for what is right.

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