Socialism

(1) The first stage of the communist formation. The economic basis of socialism is social ownership of the means of production; its political basis is the power of the toiling masses under the leadership of the working class, headed by the Marxist-Leninist party. Socialism is a social structure that precludes the exploitation of man by man and develops in conformity with a plan, with the objectives of improving the well-being of the people and comprehensively developing every member of society.

(2) Scientific socialism, the doctrine that reveals the historical necessity for the establishment of socialism and shows the way for its gradual transformation into communism; part of the Marxist-Leninist theory.

Communism

(1) the socioeconomic formation replacing capitalism and founded on public ownership of the means of production;

(2) in the narrower sense, a stage or phase in the development of this postcapitalist formation that is more advanced than socialism; “a classless social system with one form of public ownership of the means of production and full social equality of members; under it all-around development of people will be accompanied by the growth of the productive forces through continuous progress in science and technology; all the springs of cooperative wealth will flow more abundantly and the great principle ’From each according to his ability, to each according to his needs’ will be implemented. Communism is a highly organized society of free, socially conscious working people in which public self-government will be established, a society in which labor for the good of society will become the prime vital requirement of everyone, a necessity recognized by one and all, and in which the ability of each person will be employed to the greatest benefit of the people” (Programma KPSS, 1972, p. 62).

Source: The Great Soviet Encyclopedia