Anarcho-communism and Market economy

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Difference between Anarcho-communism and Market economy

Anarcho-communism vs. Market economy

Anarcho-communism (also known as anarchist communism, free communism, libertarian communism and communist anarchism) is a theory of anarchism which advocates the abolition of the state, capitalism, wage labour and private property (while retaining respect for personal property) in favor of common ownership of the means of production, direct democracy and a horizontal network of workers' councils with production and consumption based on the guiding principle: "From each according to his ability, to each according to his needs". A market economy is an economic system in which the decisions regarding investment, production, and distribution are guided by the price signals created by the forces of supply and demand.

Capitalism

Capitalism is an economic system based upon private ownership of the means of production and their operation for profit.

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Economic democracy

Economic democracy is a socioeconomic philosophy that proposes to shift decision-making power from corporate managers and corporate shareholders to a larger group of public stakeholders that includes workers, customers, suppliers, neighbors and the broader public.

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Gift economy

A gift economy, gift culture, or gift exchange is a mode of exchange where valuables are not traded or sold, but rather given without an explicit agreement for immediate or future rewards.

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Libertarian socialism

Libertarian socialism (or socialist libertarianism) is a group of anti-authoritarian political philosophies inside the socialist movement that rejects socialism as centralized state ownership and control of the economy.

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Means of production

In economics and sociology, the means of production (also called capital goods) are physical non-human and non-financial inputs used in the production of economic value.

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Pierre-Joseph Proudhon

Pierre-Joseph Proudhon (15 January 1809 – 19 January 1865) was a French politician and the founder of mutualist philosophy.

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Private property

Private property is a legal designation for the ownership of property by non-governmental legal entities.

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Public good

In economics, a public good is a good that is both non-excludable and non-rivalrous in that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.

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Wage labour

Wage labour (also wage labor in American English) is the socioeconomic relationship between a worker and an employer, where the worker sells his or her labour under a formal or informal employment contract.

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