Final answer:
Communism is intended to create an equal society through common ownership led by the workers, but in practice often results in authoritarian rule, economic stagnation, and human rights issues, although some countries, like China, have seen growth by integrating market principles.
Step-by-step explanation:
In theory, communism is a socio-economic system that aims for a classless society by promoting common ownership of properties and means of production, with the government or state owning farms, manufacturing, and businesses. However, in practice, the vision of equal society and worker-led governance often gives way to authoritarian rule, leading to human rights violations and economic stagnation. Despite full employment in some historical contexts, such as Stalin's Soviet Union during the early 1930s, command economies typically suffer from lack of innovation and incentive, resulting in lower economic growth compared to market economies.
Notably, some communist countries like China have sought to integrate market principles, with leaders like Deng arguing that a focus on producing and distributing what people need will eventually eliminate both the need for profit-focused economies and authoritarian control. Nonetheless, the transition to such a model has been complex and fraught with internal contradictions, making it difficult to achieve the growth and prosperity that are hallmarks of successful countries.