Capitalism and Socailsim?

Question

What are differences of Capitalism and socialism?

Answer 1

Capitalism is a function of freedom, where government is neither necessary or desired.  It gives is freedom to produce, to negotiate and to own whatever each feels is most valuable to himself.

Socialism cannot function except by force, that accomplished by instituting government to force the peoples money from then, called taxation, and they transferring that money to those the socialists consider most needy.  Socialists insist they know better than you do.

Answer 2

SOCIALISM redistributes wealth / under a socialistic state everyone would have the basic needs but people could still own things  / Socialism is on the left of politics  /  Under Socialism most of means of production is owned by the government

A socialist system blends state ownership and private ownership of property and the means of production and distribution. There are enormous variations. Some socialist systems (e.g. Venezuela) are corrupt and are dictatorships. Others, like Sweden, are well run, democratic, and have strong constitutional guarantees and personal freedom and socialist democracies, like those scandanavian countries

the government will do things for the people like give free health care, free education, etc. some regulation on business while looking after the poor and unfortunate.

Under CAPITALISM private individuals or corporations own the means of production.   //  Under capitalism, the individual can move up the 'scale' and be promoted if able to come up with a good idea or invention.       There is little or no restriction on Business and competition, doing better business is what capitalism is about. Labor rates can be negotiated.

Answer 3

Yes in a capitalism entrepreneurship and business is not  restricted by the government and a unrestricted free market is allowed . Where as in socialism the government aims at a equitable distribution of wealth and the economy and entrepreneurship is partially controlled