Question

list two differences between the capitalist and socialist idea of private property.
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Answer 1

Explanation:

The two differences are as follows

(i) The capitalists believed that individuals owned private property whereas the socialists believed that all property belonged to the society as a whole, i.e., to the state.

(ii) The capitalists believed that individuals own the profit whereas the socialists believed that profits are due to workers labour and hence should be shared by the them