Socialism refers to a broad array of doctrines or political movements that envisage a socio-economic system in which property and the distribution of wealth are subject to social control. As an economic system, socialism is associated with state or collective ownership of the means of production. This control may be either direct — exercised through popular collectives such as workers' councils — or it may be indirect — exercised on behalf of the people by the state.
Capitalism is an economic system in which the means of production are mostly privately owned, and capital is invested in the production, distribution and other trade of goods and services, for profit in a competitive free market. These include factors of production such as land and other natural resources, labor and capital goods. In our current capitalist state, Big Business runs everything. Would life in America be better with socialism?
Moron disclaimer: Socialism not communism.
2006-10-03
08:48:49
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14 answers
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Anonymous
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Government