What are the differences between capitalism, communism and socialism?

Question

Can you explain to me what these words mean and how each type of govermenemt is run?

Answer 1

Firstly Capitalism and Socialism are economic systems while Communism is a governmental system. I have to adress the ignorance of some of the people who have answered before me.

Capitalism is an economic system wich relies on competiveness to sucseed. True, it produces a stronger economy as a whole but is not necesarrily good for the average worker. No matter what safeguards are put in place money will go to a select few and leave many people trying to survive paycheck to paycheck. Today in America 60% of the wealth is controled by 5% of the people.

Socialism is an economic system usually coinciding with Communism, however not always. Socialism mearly protects the market from people taking advantage of everyone else. It does not necesarily redisribute wealth, however it may tax the rich more heavily to pay for government services eg. welfare, healthcare, ect. Socialism can exist in the form of a democratic socialist state in wich the people elect the leaders. People who have responded to this before me have used the example of the Soviet Union as why Socialism can't work. However the Soviet Union was, in economic terms, a "degenerated workers state" in wich the working class did not have power wich is the idea behind socialism.

Now for Communism. I believe that some extremely ignorant answerer before me said that Communism is a system with a totalitarian ruler in control. However this is the exact opposite of true Communism. True Communism is a system in wich people have total control over their government. This does include redistribution of wealth and total government control over all economics. No country has ever been pure Communist, so to say it has never worked is true, however it has also never failed. In order for it to work it must be voluntary and not forced upon the people or workers.

Answer 2

Sure. First let me explain what each claims to be and then what history shows us actually happened.

Communism-Small communities where everyone shares resources. Everything is owned equally by everyone.

Socialism-The State owns everything and provides the people their needs.

Capitalism-Free enterprise. Value paid for value given.

History shows that Communism does not work because there is no incentive for people to become more efficient or come up with improvements. Since all share equally regardless of effort expended you learn pretty fast that it doesn't pay to work harder since you won't get paid anymore than a slacker.

Socialism-The quickest way to explain what it is like to live under socialism is that no one owns anything. The government is omnipotent and a person does not matter. All Socialism ever succeeded in accomplishing is killing millions of people, putting millions in prison and sharing misery equally.

Capitalism-You can go as far as your talents, ability and determination will take you. It is a system where improvement and innovation are richly rewarded. Competition guarantees the highest quality at the lowest price. It is a system that generates wealth instead of redistributing it.

This is why the Soviet Union collapsed and has rejected socialism for capitalism. It is why China has turned partially away from socialism for capitalism.

It is why socialist countries cannot feed their own people while capitalist countries have a surplus.

This is the real deal. Facts are facts no matter what socialists may say.



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Answer 3

capitalism-rich induidivals own most of the capital(WEALTH)rest remain poor,work 4 the rich.communism-government owns all capital,people remain poor and work 4 the government.socialism-milder form of communism in which state owns most of the capital, rest of the capital owned by rich induidivals, people work mostly for the government and rich induidivals.thus it succesfully combines ill effects of both capitalism and communism.only alternative i believe is a system in which the rich will directly give money to poor under direct goverment supervision.eliminate all middlemen.the more richer a person is more money he should give the poor and the more poor a person is more money he should get from the rich.thus there will be true equality!

Answer 4

Capitalism is a economic system not a government system and Communism and Socialism are government systems with Communism you have a leader with absolute power over the people`s will and Socialism has democratically elected leaders.

Answer 5

The amount of government control. Communism is complete control (almost a dictatorship) where the government dictates how much of every product is made, who can work where, and what each business will produce. Socialism is government control of certain aspects like health care, utilities and educaiton (this is often seen in European countries) while other industries are competitive. Capitalism is limited government control of any business or industry (like in the US).

Answer 6

Capitalism - I get to take chances to make a fortune. If I make it, I keep it.
Communism - The government owns everything, and everyone works for the common good, which means the upper crust who dictate what everyone will get.
Socialism - "From each according to ability; to each according to need."