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com·mu·nism  (kŏm′yə-nĭz′əm)n.1. A theoretical economic system characterized by the collective ownership of property and by the organization of labor for the common advantage of all members.2. Communisma. A system of government in which the state plans and controls the economy and a single, often authoritarian party holds power, claiming to make progress toward a higher social order in which all goods are equally shared by the people.b. The Marxist-Leninist doctrine advocating revolution to overthrow the capitalist system and establish a dictatorship of the proletariat that will eventually evolve into a perfectly egalitarian and communal society.[French communisme, from commun, common, from Old French, from Latin commūnis; see commune2.]