explain the difference between capitalism and communism what role does the government?
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In a capitalist economy, successes and failures (profits) of individuals and companies determine the allocation of resources. In a communist command economy, the government determines resource allocation. These decisions are typically made based on macro-economic and/or political considerations.
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One similarity between capitalism and socialism is that both systems consider labor and capital to be the primary economic forces. Both capitalism and socialism agree that the world is composed of a variety of natural resources that are for the most part value-neutral until human labor imparts value to them.
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Which best describes the difference between socialism and communism? The government controls people's lives under communism, while it provides certain services for citizens under socialism.
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Capitalism does have private ownership of businesses. Thus, they would be mutually exclusive. ... With socialism the government or people own the means of production and you can't have capitalism if the means of production is owned by the government.
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Capitalism and socialism are formal economies that differ based on the role of the government and equality of economics. Capitalism affords economic freedom, consumer choice, and economic growth. ... Socialism, however, eliminates individualism and consumer choice and may lead to a stagnant economy.
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While socialism implies public ownership (by a proletarian semi-state apparatus) or cooperative ownership (by a worker cooperative enterprise), communism would be based on common ownership of the means of production. Class distinctions based on ownership of capital cease to exist, along with the need for a state.
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Capitalism is an economic system that is based on the freedom of the individual to engage in economic pursuits and own businesses operating in the marketplace. Fascism is an authoritarian socialist political system that allows for private ownership of business but that exercises state control over the economy.
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Communism is a political and economic ideology that positions itself in opposition to liberal democracy and capitalism, advocating instead a classless system in which the means of production are owned communally and private property is nonexistent or severely curtailed.
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Communism advocates the abolition of private property; socialism advocates government ownership of the means of production. Fascism leaves that property in private hands--then shackles those hands, every economic decision being directed by the state.
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Capitalism is an economic system in which the means to create wealth are privately controlled (as opposed to being owned by the state). ... Fascism is an ultra right-wing political system in which the state exercises complete control over economics and society.
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A command system, on the other hand, relies upon the state rather than individuals or markets. ... Communism and socialism are two types of command systems. In a socialistic economic system, the government owns most land and capital goods, but individuals still control their own labor.
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Communism and socialism are two types of command systems. In a socialistic economic system, the government owns most land and capital goods, but individuals still control their own labor. ... Pure economic systems, such as free-market capitalism, socialism, and communism, do not exist in the real world.
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The main difference between capitalism and socialism is the extent of government intervention in the economy. A capitalist economic system is characterised by private ownership of assets and business. A capitalist economy relies on free-markets to determine, price, incomes, wealth and distribution of goods.
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Capitalism is an economic system in which private individuals or businesses own capital goods. ... Today, most countries practice a mixed capitalist system that includes some degree of government regulation of business and ownership of select industries.
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Fascism versus communism Most adults are encouraged to either join the fascist party or support it as the government. Communism, on the other hand is viewed as totalitarian in the sense that it calls for complete economic control and ownership of the economy by the people, in common.
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Most property and economic decisions are in the hands of private individuals. A command system, on the other hand, relies upon the state rather than individuals or markets. ... In a socialistic economic system, the government owns most land and capital goods, but individuals still control their own labor.
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The main difference between democracy and capitalism lies in the very nature of the two concepts: the first is a form of government and a political system, whereas the latter is a form of governance and an economic model.