A:
The fundamental difference between capitalism and socialism is the scope of government intervention in the economy. The capitalist economic model allows free market conditions to drive innovation and wealth creation; this liberalization of market forces allows for the freedom of choice, resulting in either success or failure. The socialist-based economy incorporates elements of centralized economic planning, utilized to ensure conformity and to encourage equality of opportunity and economic outcome.
In a capitalist economy, property and businesses are owned and controlled by individuals. In a socialist economy, the state owns and controls the major means of production. In some socialist economic models, worker cooperatives have primacy over production. Other socialist economic models allow individual ownership of enterprise and property, albeit with high taxes and stringent government controls.
The capitalist economy is unconcerned about equity. The argument is that inequality is the driving force that encourages innovation, which then pushes economic development. The primary concern of the socialist model is the redistribution of wealth and resources from the rich to the poor, out of fairness and to ensure equality in opportunity and equality of outcome.
The capitalist argument is that the profit incentive drives corporations to develop innovative new products that are wanted by the consumer and have demand in the marketplace. It is argued that the state ownership of the means of production leads to inefficiency because without the motivation to earn more money, management, workers and developers are less likely to put forth the extra effort to push new ideas or products.
In a capitalist economy, the state does not directly employ the workforce. This can lead to unemployment during times of economic recession. In a socialist economy the state is the primary employer. During times of economic hardship, the socialist state can order hiring, so there is full employment even if workers are not performing tasks that are particularly useful.
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What are the differences between capitalism and socialism?
Socialism 2014: Peter Taaffe speaking at the Saturday rally
Well over 1000 people spent 48 hours being inspired and, in turn, inspiring others with their commitment and determination to fight back against the misery ...
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Much of the history of the past 200 years revolved around a single idea. It was the vision that life could be lived in peace and brotherhood if only property were shared by all and distributed equally, eliminating the source of greed, envy, poverty and strife. This idea was called "socialism" and it was man's most ambitious attempt to supplant religion with a doctrine grounded on science rather than revelation.
It became the most popular political idea in history. Its provenance was European, but it spread to China and Africa, India and Latin America and even to that most tradition-bound of regions, the Middle East. While it never fully took root in America, its influence shaped the nation's political debate. At its crest in the 1970s, roughly 60 percent of the earth's population lived under governments that espoused socialism in one form or another. Then, suddenly, it all collapsed.
Because its goal proved so elusive, the socialist movement split and split again into diverse, sometimes murderously contradictory forms. There was Social Democracy, which insisted that only peaceful and democratic means could produce a harmonious commonwealth. There was Communism, which extolled the resolute use of force and dictatorship to propel mankind to a new way of life.
There was Arab Socialism, African Socialism, and other Third World variants that sought to amalgamate western Social Democracy and eastern Communism. There was even fascism, which turned the socialist idea on its head by substituting the brotherhood of nation and race for the brotherhood of class. And there were those - from early American settlers, to the "flower children" of the 1960s, to Israeli Zionist kibbutzniks - who built their own socialist communities, hoping to transform the world by the force of example.
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Heaven on Earth: The Rise and Fall of Socialism (2005 ...
Synopsis | Americanized Socialism: A Yankee View Of Capitalism By James Mackaye
JUST A SUMMARY - THE SUMMARY YOUR FAVORITE BOOK =--- Where to buy this book? ISBN: 9781103992744 Book Review of Americanized Socialism: A Yankee View of Capitalism by James ...
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Synopsis | Americanized Socialism: A Yankee View Of Capitalism By James Mackaye - Video
Synopsis | Market And Plan Under Socialism: Bird In The Cage By Jan S. Prybyla
JUST A SUMMARY - THE SUMMARY YOUR FAVORITE BOOK =--- Where to buy this book? ISBN: 9780817983529 Book Review of Market and Plan Under Socialism: Bird in the Cage by Jan S.
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Synopsis | Market And Plan Under Socialism: Bird In The Cage By Jan S. Prybyla - Video