Write a paragraph comparison of ideas of capitalism and socialism how are they similar or different
Answers
One similarity between capitalism and socialism is that both systems consider labor and capital to be the primary economic forces. Both capitalism and socialism agree that the world is composed of a variety of natural resources that are for the most part value-neutral until human labor imparts value to them.Capitalism and socialism are formal economies. The major differences between capitalism and socialism revolve around the role of the government and equality of economics. Capitalism affords economic freedom, consumer choice, and economic growth.The two most common are capitalism and socialism. They are very different in how they view who runs the economy. Most economies have ideas from both systems, but tend to be more of one than the other. Capitalism is the economic system based on private or corporate ownership of, production and distribution of goods.One similarity between capitalism and socialism is that both systems consider labor and capital to be the primary economic forces. ... Capitalists believe market competition should direct the distribution of labor; socialists believe the government should have that power.