A society where all property was socially controlled would be ____ society.

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A society where all property was socially controlled would be a communist society.
The Communist theory believes that if higher production levels exist in the industries, the entire population will get a good standard of living. But he did not focus on the fact of scarcity of resources. He believed that his theory had a natural drawback, which would lead to its failure. He believed that communism might lead to recessions and depressions. These will be caused by unemployment and lower wages. He knew that this theory had its reasons for failure. Communism will lead to unequal income distribution, which will widen the gap between rich and poor, leading to the failure of communism. The division of society between the owners of factories and workers widened this gap, leading to conflicts.

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