Marxist Glossary - Mini Edition: 21st Century American Narrative (Volume 1)

WHAT’S INSIDE Capitalism (bourgeois mode of commodity production): Capitalism is private ownership of capital and means of production in a system of production and distribution based on wage labor, competition between the laborers for wages and competition between capitalists. It is commodity production at its highest stage of development where labor appears on the market as a commodity, labor power, to be bought and sold alongside every other commodity. … Communism: Communism is an economic system where socially necessary means of production are owned in common rather than by individuals and corporations. Communist economy is production and distribution carried based on the principle, from each according to their ability, to each according to their socially necessary needs. Communism and Marxism are not the same. Communism is an economic system. Marxism is the science of society. … Fascism: Fascism in power, today, in our time, is the open terroristic dictatorship of the corporate state. The corporate state is merger of corporations and the state. Twenty-first century American fascism in power, unlike the fascism of Nazi Germany, is a political response of the ruling class to social revolution and the objectivity of the revolutionary movement of the destitute proletariat (precariat). Fascist dictatorship is the capitalists’ solution to polarization – extreme poverty at one pole and extreme wealth and riches at the other pole. The corporate state is the handmaid of speculative finance (capital) . . . . unrestrained by political liberty and the bourgeois democratic state forms of the past two centuries. …