Yeh, i know they tend to discuss Capitalism in economic terms and Communism in social terms, i think this is one of the problems we have in society on the understanding of them because both Capitalism and Communism are actually both economic/social systems/ideologies however they fundamentally differ.
I woyuld beg to argue the opposite with your second paragraph and can give a couple quick examples. When Howard reduced state control and de-regulated our Aviation industry i remember ticket prices falling by up to 90%, a Brisbane to Melbourne flight could cost a grand before the de-regulation and after 100 bucks. If Albo hadn't banned Qatar i think it was, customers could have paid less for plane fares not so long ago and we would have had less inflation. When Telecom industry / Telstra was de-regulated and competition was allowed consumers paid less for the services. There were no wage cuts with all these things and everyone got more for their money, i don't see this as destructive at all, i see it as beneficial for Australians because they got more for the same money, one could afford to catch a plane more often to go see relatives in different states for example.