write a paragraph defenating the ideas of captalism and socialism
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Capitalism and socialism are formal economies. ...
Capitalism affords economic freedom, consumer choice, and economic growth. Socialism, which is an economy controlled by the state and planned by a central planning authority, provides for a greater social welfare and decreases business fluctuations.
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socialism means all should be equal in every aspect and every thing ahoud be shared ,live with lot of humanity
economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
"an era of free-market capitalism"
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