MH.Yang
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These two terms are largely synonyms. Even in China, they are used almost interexchangably.
They have the same goal, which is remove the inequality among human beings. As the result, they have the same economic policy: planned economy, which is inevitable if you want to remove the very source that makes the society unequal - - the desire for profit by each person. But this very source is also the source of vitality of market, without which the price is no longer able to serve as a signal to guide more efficient, thus more profitable use of scarce resources.
But if you truly want to be nitpicking, what I just said isn't entirely accurate. If you think communism means Marxism communism, then communism has no economic policy. Marx didn't bother to speculate on how communistic economy would work at all. He believed that communism will arrive naturally and inevitably so to him it seems to be pointless to discuss how its economy would work. It was only when Lenin took over Russia, he suddenly faced this question that Marx never gave an answer to. Naturally he did what a socialist would do : create a planned economy, which quickly led to disasters and prompted him to adopt NEP, which looks a lot like what Deng did in 1978. Unfortunately, Stalin abandoned it soon after his death. Stalin apparently wanted a pure socialism.
People are desiring equality, not socialism.
If communism and socialism were really the same, Lenin and Trotsky would not break up.
Well, I won't argue with you about this issue, because theoretical argument often consumes too much time.
I just need to say this: China will do something at this stage, continue to adhere to the public ownership economy as the main body, improve people's welfare, narrow the gap between the rich and the poor, reduce exploitation and develop higher productivity.
This is the socialist road that China will continue to follow.