Capitilism and Socialism Briefly Explained
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Words: 361
Pages: 1
(approximately 235 words/page)
Pages: 1
(approximately 235 words/page)
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Capitalism and Socialism are both forms of an economic system involving ownership of natural resources and property, this however is where the similarities end.
Capitalism involves the private ownership of property, pursuit of personal profit and the free competition and consumer sovereignty. Socialism is on the other side of the spectrum with its collective ownership of property, pursuit of collective goals and the government control of the economy.
Private ownership of property allows for individuals
showed first 75 words of 361 total
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showed first 75 words of 361 total
showed last 75 words of 361 total
different and while the socialist nations personal freedom is almost non-existent, the capitalist nations personal freedom is considered to be very positive. <Tab/>Both the socialist and capitalist systems have positive and negative aspects and depending on what one views as important both can and have worked as and economic system. REFERENCE LIST 1.<Tab/>Macionis J. & Gerber L: 2002. Sociology: Fourth Canadian Edition. Toronto: Prentice Hall
different and while the socialist nations personal freedom is almost non-existent, the capitalist nations personal freedom is considered to be very positive. <Tab/>Both the socialist and capitalist systems have positive and negative aspects and depending on what one views as important both can and have worked as and economic system. REFERENCE LIST 1.<Tab/>Macionis J. & Gerber L: 2002. Sociology: Fourth Canadian Edition. Toronto: Prentice Hall