What does communism propose about property ownership?

Communism proposes that property ownership is held in common by the community. This foundational concept emphasizes the elimination of private property, with the goal of abolishing class distinctions that arise from individual ownership. In a communist system, land, factories, and other means of production are collectively owned, which is intended to ensure that everyone has equal access to resources and that the wealth generated from these resources benefits the whole community rather than individual capitalists.

This idea contrasts with systems where property can be privately owned, controlled by a governmental authority, or influenced by market forces, which are typical in capitalism and various mixed economies. The communal ownership model serves to promote economic equality and social welfare, striving to reduce disparities and enhance collective decision-making regarding resource allocation.