Socialism VS Capitalism
Socialism- A kind of economic system
- public ownership
- self-management
- equal power-relation
- working class- the main supporter
- exploitation of the middle classes
- Nationalization of the means of production
- Cooperative managment of the means of production
- Allocation of resources
- Free association
- Direct production of use-value
- Every person has the power of decision making
- Late 18th century
Capitalism
- A kind of economic system
privte ownership- private profit
- private decision regarding supply, demand, price, distribution, and investments
- Free market
- laissez faire (no goverment intervention)
- middle class- the main supporter
- exploitation of the working class
- most of the means of production are private own
- no power of decision making for the working class
- economic growth
- right to control property
- 16th century
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