Tag: communism


  • Communism is an ideology based on the precept of “common ownership” most popularly believed to have originated from the Greek philosopher, Plato’s 380BC piece, “The Republic” in which he described a state where people shared all their property, wives, and children. With the 1917 October revolution in Russia that brought the first communist organization to…

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  • Capitalism, according to Investopedia, is a system of economics based on the private ownership of capital and production inputs, and on the production of goods and services for profit. This Adam Smith’s doctrine, Aynrand adds, is a social system based on the recognition of individual rights, including property rights. Nigeria was incorporated into the free…

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