Question

State three differences between the capitalist and socialist ideas on private property

Answer 1

the fundamental difference between capitalist and socialist is the scope of the government intervention in the economy
the capitalist believed that individuals owned private property whereas the socialist believed that all property belonged to the society as a whole i.e to the state
the capitalist believed that the profits from the property should belong to the properties owner whereas the socialist believed that profits are due to the workers labour and so should be shared by them.....