What is the economic system characterized by a stateless, classless society, often confused with Socialism?

The economic system characterized by a stateless, classless society is communism. In theoretical terms, communism envisions a society where all property is publicly owned and each person works and is paid according to their abilities and needs. This system arises after a revolutionary overthrow of capitalist structures, leading to the elimination of class distinctions.

The confusion with socialism often stems from the fact that both systems advocate for economic equality and may involve collective ownership. However, socialism typically allows for some degree of state involvement and regulation in the economy, whereas communism seeks an extreme form of collectivism with the goal of abolishing the state entirely, once a classless society is achieved. This distinction highlights the more radical ideological underpinnings of communism, distinguishing it from other systems where both public and private ownership can coexist.

This understanding of communism's goals and characteristics is essential when discussing different economic systems, particularly in how they relate to concepts of class and state authority.