At the opposite end of the spectrum from capitalism, communism is an economic theory favoring a classless society and the abolition of private property.
Communism derives from the French commun (common). Ideally, according to communism, society shares all property in common, everyone shares the burden of labor, and everyone shares the profits of that labor. Or, as the German philosopher Karl Marx wrote, "From each according to his ability, to each according to his need." As a system of government, communism is often closer to a form of socialism, in which the state owns and operates industry on behalf of the people.