List two differences between capitalists and socialist ideas of private property
Answers
Answer:
capitalism and socialism are two diverse ideologies and their legacy is witnessed by whole world in form of cold war. The two differences on idea of private property are:-
1- In capitalism private property is seen as a major source of development thus state supports the concept of private property.
on other hand in socialism private property is seen as a major reason for the exploitation and thus state supports limited private property.
2 - In capitalism focus of private property is to maximise the production from that property and production from that property must be profit oriented.
On other hand in socialism the production from the private property is only need oriented it is said that in socialism production is done for need not for greed.
3- In capitalism private property is acquired on the basis of merit or we can say on the basis of ability and available resources to a person.
On other hand in socialism private property is said to be distributed equally to all not a single person should have control of property more than his/her need.
4- capitalism supports the idea of possessive individualism regarding the concept of private property after paying nominal tax amount.
On other hand socialism says that whatever man earns as private property is somewhere contributed by society so they are bound to return to that society.