Which society destroys private ownership of means of production and in its place creates public ownership of means of production?

I. Socialist       

II. Capitalist

The correct option is a Socialist society.

• According to the socialist view, individuals do not live or work in isolation but live in cooperation with one another.
• Society as a whole, therefore, should own or at least control property for the benefit of all its members.

Key Points

1. Socialism is the social and economic doctrine that calls for public rather than private ownership or control of property and natural resources.
2. Furthermore, everything that people produce is in some sense a social product, and everyone who contributes to the production of a good is entitled to a share in it.

Hence, a socialist society destroys private ownership of means of production and its place creates public ownership of means of production.