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Difference with Communism?

Socialist Economic System

In socialist society wages are the monetary expression of the worker’s share of that portion of the social product which is paid out by the State in accordance with the quantity and quality of each worker’s labour.


Marxism is a left-wing to far-left method of socioeconomic analysis that uses a materialist interpretation of historical development, better known as historical materialism, to understand class relations and social conflict and a dialectical perspective to view social transformation