Aside from obvious ownership issues, what's the main difference between Communistic & Capitalistic Economics?

Question

"ec�o�nom�ics �� (k-nmks, k-) KEY �

NOUN:

(used with a sing. verb) The social science that deals with the production, distribution, and consumption of goods and services and with the theory and management of economies or economic systems.

(used with a sing. or pl. verb) Economic matters, especially relevant financial considerations: "Economics are slowly killing the family farm" (Christian Science Monitor). "

Answer 1

Capitalism is an economic system in which property is owned by either private individuals or a corporation. Private ownership is sometimes used as a synonym for individual ownership, however the term "private" may also be used to refer to collective ownership of individuals in the form of corporate ownership. Therefore, "privately owned" in the context of this definition means not owned or controlled by the state and operated for profit, and in which investments, distribution, income, production and pricing of goods and services are determined through the operation of a market economy. It is usually considered to involve the right of individuals and corporations to trade, using money, in goods, services (including finance), labor and land.

Capitalist economic practices became institutionalized in England between the 16th and 19th centuries, although some features of capitalist organization existed in the ancient world, and early forms of merchant capitalism flourished during the Middle Ages. Capitalism has been dominant in the Western world since the end of feudalism. From England it gradually spread throughout Europe, across political and cultural frontiers. In the 19th and 20th centuries, capitalism provided the main, but not exclusive, means of industrialization throughout much of the world.

The concept of capitalism has limited analytic value, given the great variety of historical cases over which it is applied, varying in time, geography, politics and culture, and some feel that the term "mixed economies" more precisely describes most contemporary economies. Some economists have specified a variety of different types of capitalism, depending on specifics of concentration of economic power and wealth, and methods of capital accumulation  During the last century capitalism has been contrasted with centrally planned economies, such as Marxist economies.

Communism is a socioeconomic structure that promotes the establishment of a classless, stateless society based on common ownership of the means of production. It is usually considered to be a branch of socialism, a broad group of social and political ideologies, which draws on the various political and intellectual movements with origins in the work of theorists of the Industrial Revolution and the French Revolution, although socialist historians say they are older. Communism attempts to offer an alternative to the problems believed to be inherent with capitalist economies and the legacy of imperialism and nationalism. Communism states that the only way to solve these problems would be for the working class, or proletariat, to replace the wealthy bourgeoisie, which is currently the ruling class, in order to establish a peaceful, free society, without classes, or government. The dominant forms of communism, such as Leninism, Stalinism, Maoism, Trotskyism and Luxemburgism, are based on Marxism, but non-Marxist versions of communism (such as Christian communism and anarchist communism) also exist and are growing in importance since the fall of the Soviet Union.

Answer 2

The general attitude of communism is to ensure equality, while the general attitude of capitalism is to ensure hard work is rewarded.

Answer 3

Communism has never been tried.We are too much of a selfish species to even entertain the thought.And that is as it should be.Why should I work harder if my efforts are never recognized? However,why should the few and the lucky be overly compensated to the detriment of the rest of us-both system bare the burden of their weaknesses upon the shoulders of the masses.Only capitalism can hope to cope with the inherent problems in either system.----Ronnie f,watch your dangling modifiers.

Answer 4

the main good point of the communism is that it takes care of everybody

the worst point of communism is that if you don't give to the people the possibility to earn, the people will lose their motivations.

the main good point of the capitalism is that if i work hard i will be awarded, i mean if work hard i will earn more than a person that doesn't work hard

the worst point of the capitalism is that it doesn't take care of the weak people

from italy