Political, Cultural, Economic Ideologies Capitalism (What we have in the US): Where means of production (factories, machines, labor) are owned by an individual. People buy & sell based ontheir own judgment. Marxism (Based on the ideas of Karl Marx): Based on class struggle (Which was created by capitalism). The desire for economic success created the classes of the wealthy and poor. Communism (Grows from Socialism & Marxism): People own the means of production and share in the profits. This removes class conflict and struggle. There is no private property in a communist society.