2006-10-20 05:09:59 · 6 answers · asked by annabelle d 1 in Politics & Government ➔ Government
Communism is a political system. Capitalism is an economic system. Socialism can describe either a political system or and economic system.
I assume your question is primarily economic based (possibly incorrectly).
The hallmark of Capitalism is what Adam Smith referred to as the "magic hand". In a free market economy, the products produced will be determined by the consumer and competition will set the appropriate price. The American private sector is an example of Capitalism in a free market. China and Germany are examples of centrally controlled capitalist markets.
In Socialism, the consumers organize the production of goods and set the price. In America, fire and police protection, government roads, and public schools are examples of Socialism.
2006-10-20 05:21:36 · answer #1 · answered by imnogeniusbutt 4 · 1⤊ 1⤋
Here's the simple version capitalism the civilians own and finance there business minimal govt regulation. The people are expected to care for themselves with the least govt help as is possible. Socialism the civilians still own the business but the govt is on the board and has a say in the business operations and can give financing to the business and has a welfare system that will cover the people from cradle to grave. Communism is when the govt owns and runs everything supposedly for the good of all. All people are taken care of from cradle to grave.
2006-10-20 13:06:16 · answer #2 · answered by brian L 6 · 0⤊ 0⤋
Capitalism = Plutocracy
Socialism = God Complex & Mass Murder
Communiusm = God Complex & Mass Murder
2006-10-20 12:36:55 · answer #3 · answered by kool_rock_ski_stickem 4 · 0⤊ 1⤋
Excelent question, though it takes a whole essay to back it up!
2006-10-20 12:18:33 · answer #4 · answered by me 6 · 0⤊ 0⤋
Do your own homework.
2006-10-20 12:40:56 · answer #5 · answered by elysialaw 6 · 1⤊ 0⤋
Where is humanity?
2006-10-20 12:40:14 · answer #6 · answered by jay s 4 · 1⤊ 0⤋