Communism: A Very Short Introduction (Very Short Introductions) by Holmes Leslie

Author:Holmes, Leslie [Holmes, Leslie]
Language: eng
Format: mobi, epub
Publisher: Oxford University Press
Published: 2009-08-26T16:00:00+00:00

Types of ownership

In Communist states, most factories, banks, and other forms of enterprise were owned by the state. Communists called this social ownership of the means of production. Most Westerners are more familiar with the term nationalized; this is an acceptable term to use, as long as it is understood that different levels of the state (centre, republic, local municipality, etc.) in Communist systems could own economic enterprises. There were occasional exceptions to this notion of social ownership, with the last privately owned factory in East Germany – a perfume factory! – being nationalized as late as 1972.

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