This is a form of social and economic organization characterized by the common ownership of the means of production, distribution, and exchange.

Communism.

Explanation:

Communism is a form of economic and social organization characterized by the common ownership of the means of production, distribution, and exchange. Hence, this expression "communism" can indicate to particular administrative groups, in its essence, communism signifies a philosophy of economic equity through the isolation of the individual property. The theories of communism, most famously signified by Karl Marx, core on the opinion that imbalance as well as experiencing the result of capitalism.