Capitalism, communism, and socialism

Question

can anyone give me a brief explanation about capitalism, communism, and socialism. also can anyone tell me some countries that relate to capitalism, communism, and socialism. is north and southKorea a capitalism, communism, and socialism.? thnx...

Answer 1

Capitalism:  Wealth is privately held.  The USA from inception to about 1945.

Communism:  Wealth is held and distributed by the government.  Cuba and North Korea.

Socialism:  Wealth is created privately but redistributed by the government.  Norway, Sweden.

Most countries have some sort of mix.  Wealth is privately held, but there are some government social programs (like welfare, food stamps, etc) that require wealth redistribution.  South Korea is primarily capitalistic from what little I know about it.  

Answer 2

Socialists believe that both the economy and society should be run democratically—to meet public needs, not to make profits for a few. To achieve a more just society, so that ordinary people can participate in the many decisions that affect their lives.

Communism is a distinct socio-political philosophy that is willing to use violent means to attain its goal of a classless society. Communism believes in equality through force. In its system, individual rights are ground to powder and used to build its idol of absolute government control. It is indeed like the tusk of the elephant. It is sharp. It is dangerous. And it has gored millions of men in its rage through history. Communism embraces atheism and dismisses religion as “the opiate of the masses,” a system designed by the rich and powerful to keep the poor in their place.

Capitalism is a socio-economic system in which private ownership means profit to the owner. The owner controls the means of production, so the profit belongs to the private business owner. In capitalism, the free market determines the production, distribution and price of goods and services.