In 1961, the leaders of the Albanian communist regime boasted that in Albania had finally been created the economic base of socialism. This meant that all property and economic enterprise were under state control. Private property disappeared to its fullest extent. The new form of property was called a socialist property. According to their claims, state property belonged to all the people, but in fact it belonged to a close group of people who controlled the state through dictatorship. The communist regime also claimed that with the disappearance of private property, human exploitation had disappeared. This article addresses the issue of the socialist economy as a whole, which was nothing more than a state-controlled gigantic monopoly hidden behind a new name. The claim of eradicating human exploitation was a false one. The replacement of the private owner with the state had no impact on the exploitation of people, they carried on working for someone else.