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What is the difference between socialism and communism?
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The main difference between socialism and communism is that, in socialism, certain parts of the production process are owned and controlled by the public, while in communism, all aspects of production are owned and controlled by the public. Socialism also recognizes the value of private ownership for certain aspects of the economy, while communism eliminates most private ownership of property. Communism also usually implies a central authority that makes decisions for the collective good, while socialism allows for more individual decision-making in economic matters.