Question

Define socialism communism and capitalism in context with the Russian Revolution .(Class 9)​

Answer 1

Answer:

Explanation:Capitalism as a political system gradually has grown up in Europe since medieval times but it was about the middle of the 19th century when many people realized that, despite all of the technological progress, they could not accept the injustices of the social order associated with it. The term “capitalism” was a natural for naming a system where capital and the people enriched by it - capitalists - flourished. “The Communist Manifesto,” published in 1848 by Karl Marx and Friedrich Engels, is considered the pivotal moment in people starting to use the terms “capitalism,” “socialism” and “communism” as descriptions of diverse political concepts. One should note that from the start, capitalism, as the existing political system, had a bad reputation, and socialism and communism as ideas of a better future were perceived as noble.  

Later on, capitalism found its ideological defenders. On the economic side it would be the Austrian School of economic thought; on the philosophical end it would be the writings of Ayn Rand; and the followers of each. Correspondingly, in the 20th century, socialistic concepts were implemented in many countries, mostly with disappointing results. However, the original attitude that capitalism is bad and socialism is good still is lingering around, as all shortcomings of the capitalistic system are often interpreted as the evidence of its inalienable and deplorable faults, but all shortcomings of the socialistic system are interpreted as imperfections in implementations of an otherwise supreme political order.