Capitalism A communist society aims to create

Capitalism
and Communism are both examples of economic systems but the guiding principles
and the ways in which they function are distinct. Capitalism largely focuses on
a proprietary and individualistic approach to society. With communism, however,
everything is centralized around the government and focuses on creating an
egalitarian society.

In
a capitalist society, individualism is central to the system. A capitalist
society believes in resources and all means of production belonging to a
private owner. All capital is very much singular and all the aspects of
production are for profit. A communist society centralizes all means of
production to the state. With communism, capital is converted into common
property for all members of society and all aspects of production are for the
people.

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In
a capitalist society, the consuming power is largely dependent on the income,
wealth and borrowing ability of an individual. Additionally, consumption is on
a supply and demand basis and takes place in the free market. With a communist
society, on the other hand, produce and other services are made based on the
ability of a person and is distributed amongst individuals according to their need
and as required.

Capitalism
is in favor of the private ownership of property whereas communists are not.

Similarly, the largest difference between the two economic and social systems
is that with capitalism, society is very independent and individualistic and is
very much self -controlled. A communist society aims to create a classless
society where nothing is individual but belongs to the nation wholly and
equally.

Despite
all the differences mentioned above, there are some correlations between the communist
and capitalist systems. Regardless of methodology, the two systems are both
greatly defined by their production and its influence on the economy of the
state. The two systems also both consider labor and capital as the main sources
for the production of goods and services. Both systems measure their economy
based on the wealth.

Additionally,
the allocation of resources, goods and, services are controlled by an external
entity not directly involved in the production of the goods. In the capitalist system, the free market controls
the allocation of the produce and services and is dependent on the demand of
the customers. In a communist society, the allocation of goods and services is
controlled by the government. Those who sell their labor and are directly
involved in the process of the production of goods have no control over the
means of production. In the capitalist class, the means of production are
controlled by the bourgeoisie
and in the communist system, the means of production are, once again, controlled
by the government.

            Even though the two systems consist of different practices
and ideologies concerning the economy and society there are certain areas of
overlap between the two systems. Both systems have strengths and flaws and can
be 

Capitalism
and Communism are both examples of economic systems but the guiding principles
and the ways in which they function are distinct. Capitalism largely focuses on
a proprietary and individualistic approach to society. With communism, however,
everything is centralized around the government and focuses on creating an
egalitarian society.

In
a capitalist society, individualism is central to the system. A capitalist
society believes in resources and all means of production belonging to a
private owner. All capital is very much singular and all the aspects of
production are for profit. A communist society centralizes all means of
production to the state. With communism, capital is converted into common
property for all members of society and all aspects of production are for the
people.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

In
a capitalist society, the consuming power is largely dependent on the income,
wealth and borrowing ability of an individual. Additionally, consumption is on
a supply and demand basis and takes place in the free market. With a communist
society, on the other hand, produce and other services are made based on the
ability of a person and is distributed amongst individuals according to their need
and as required.

Capitalism
is in favor of the private ownership of property whereas communists are not.

Similarly, the largest difference between the two economic and social systems
is that with capitalism, society is very independent and individualistic and is
very much self -controlled. A communist society aims to create a classless
society where nothing is individual but belongs to the nation wholly and
equally.

Despite
all the differences mentioned above, there are some correlations between the communist
and capitalist systems. Regardless of methodology, the two systems are both
greatly defined by their production and its influence on the economy of the
state. The two systems also both consider labor and capital as the main sources
for the production of goods and services. Both systems measure their economy
based on the wealth.

Additionally,
the allocation of resources, goods and, services are controlled by an external
entity not directly involved in the production of the goods. In the capitalist system, the free market controls
the allocation of the produce and services and is dependent on the demand of
the customers. In a communist society, the allocation of goods and services is
controlled by the government. Those who sell their labor and are directly
involved in the process of the production of goods have no control over the
means of production. In the capitalist class, the means of production are
controlled by the bourgeoisie
and in the communist system, the means of production are, once again, controlled
by the government.

            Even though the two systems consist of different practices
and ideologies concerning the economy and society there are certain areas of
overlap between the two systems. Both systems have strengths and flaws and can
be 

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