Engels, from “The Principles of Communism”:
Above all, it will have to take the control of industry and of all branches of production out of the hands of mutually competing individuals, and instead institute a system in which all these branches of production are operated by society as a whole – that is, for the common account, according to a common plan, and with the participation of all members of society.
It will, in other words, abolish competition and replace it with association.
Moreover, since the management of industry by individuals necessarily implies private property, and since competition is in reality merely the manner and form in which the control of industry by private property owners expresses itself, it follows that private property cannot be separated from competition and the individual management of industry. Private property must, therefore, be abolished and in its place must come the common utilization of all instruments of production and the distribution of all products according to common agreement – in a word, what is called the communal ownership of goods.
In fact, the abolition of private property is, doubtless, the shortest and most significant way to characterize the revolution in the whole social order which has been made necessary by the development of industry – and for this reason it is rightly advanced by communists as their main demand.