define socialism and capitalism and difference between them
Answers
Capitalism includes the bad things we do by using money for example doing some illegal work by using Money POWER.... And Socialism includes our society.... Means being together in a society...
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Socialism is an economic system where everyone in society equally owns the factors of production.
Communism is a system of social organization in which all property is owned by the community and each person contributes and receives according to their needs.
DIFFERENCE :
● A communist society is stateless, classless and governed directly by the people whereas a socialist society can coexist with different political systems.
● There is no such thing like private property in a communist society whereas a communist society have both private as well as personal properties.
● All religions and metaphysics are rejected in a communist society whereas there is freedom of religion in a socialist society.
● Means of production are commonly owned in a communist society and no individuals own productive property but in a socialist society the means of production are socially owned.