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What is a Communist Economy?

Communism. We hear the term thrown around all the time. But what exactly does it mean? The actual meaning of communism is quite complex. In many cases, communist countries strayed from the actual theory of communism and it became communism and name only. In 20th century America during the Cold War, the term communist became synonymous with enemy. Today it is used as a derogatory term for the far left. But what exactly is communism, and how  does it relate to economics? Watch this video presentation to find out.