who is credited with creating an alternative to capitalism called communism or socialism
History of socialism The history of socialism has its origins in the 1789 French Revolution and the changes which it wrought, although it has precedents in earlier movements and ideas. The Communist Manifesto was written by Karl Marx and Friedrich Engels in 1848 just before the Revolutions of 1848 swept Europe, expressing what they termed "scientific socialism". In the last third of the 19th century, social democratic parties arose in Europe, drawing mainly from Marxism. The Australian Labor Party was the world's first elected socialist party when it formed government in the Colony of Queensland for a week in 1899.[1]
Means of production Mode of production (German: Produktionsweise) means the dominant way in which production is organised in society. For instance, "capitalism" is the name for the capitalist mode of production in which the means of production are owned privately by a small class (the bourgeoisie) who profits off the labor of the working class (the proletariat). Communism is a mode of production in which the means of production are not owned by anyone, but shared in common, without class based exploitation.