whats the diff. between capitalism and socialism?

Question

any help is greatly appreciated

Answer 1

In general, Capitalism is the political and economic system that holds the individual as sovereign and protects individual rights. Socialism one of many political and economic systems that counts "society" or the collective as sovereign over the individual and seeks to abridge the rights of the individual for "the greater good".

Answer 2

Capitalism is based on free trade and the rights and freedoms of each citizen.

Socialism is based on centralized government, dictating what is good for its citizens, and the importance of the many over the few. While their stated purpose was to distribute resources, "from each according to their ability, and to each according to their needs", in fact each society that claimed socialism instead gathered wealth and luxuries to its leaders and deprived its average citizen of adequate necessities for decent living. It was found that socialism did not work because human nature is such that if workers are going to get paid the same no matter how little they work, then the other workers seeing that there is no reward for working will themselves stop making any effort. The end result of socialism is a contest among the workers to see 1. who can do the least work and 2. who can gather the most wealth and power.

Answer 3

Capitalism is when 2% of the population own 92% of the wealth and everyone thinks this is ok
Socialism is where 2% of the population own 92% of the wealth and a few people think this wrong, and they say something.
Anarchy is where 2% of the population own 92% of the wealth and they do something violent about it.
Liberalism is where 2% of the population own 92% of the wealth and some are indignant about it.
Communism is where the wealth is redistributed and all of the wealth is used for the good of everyone, but this is an ideology and dosnt work in practice. However the ideology makes sence.

Answer 4

Capitalism is supposed to work in theory by providing opportunities for a person to get wealthy or get to the top. However, the government is in control by WHO may get to the top, and we are seeing a great example of that now. Tuition rates are up, and government loans and programs have been cut that were used to allow the poor or middle class the chance to go to college in order to get ahead. So this keeps people in poverty. Capitalism is an extremely unfair system, being controlled by the governement.

Socialism is concerned with social problems, and the government usually provides programs in order that its people may live above poverty status. This is a much fairer system, it provides citizens the opportunities to get ahead, thereby, paying more in taxes to the country and supporting it.