capitalism the economic system in which the means of production and distribution are privately owned and operated for profit
socialism a theory by which the means of production and distribution are owned by society rather than by individuals
communism any theory or system of common ownership of property
Now the whole group of those who believed were of one heart and soul, and no one claimed private ownership of any possessions, but everything they owned was held in common. With great power the apostles gave their testimony to the resurrection of the Lord Jesus, and great grace was upon them all. There was not a needy person among them, for as many as owned lands or houses sold them and brought the proceeds of what was sold. They laid it at the apostles' feet, and it was distributed to each as any had need. Acts 4:32-35 (NRSV).
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