What is the difference between socialism and capitalism
Capitalism is the name given to the market economy system, which did not come to full fruition until the restrictive practices of the medieval and mercantilist eras had been eroded. During the past two centuries world economic growth has been achieved very largely through the free market system and mainstream economic theory has provided theoretical justification for it. Capitalism is being challenged . Democracy is a complete failure in Africa . Capitalism is about using money to make money for people who already have more of it than they need. It rewards the monopolist and the speculator at the expense of those who do productive work.
Capitalism is the only economic system that recognizes the right of each individual to his own life and pursuit of happiness. Under capitalism, the government's sole responsibility is to protect individual rights, including the right to life, the right to control one's own property consistent with the equal rights of others, and the right to interact voluntarily. Capitalism is thus based upon acknowledging to each potentially disputed resource a proprietor, an owner. The owner may decide how this resource is preserved or spent. Capitalism is growing with the greatest rapidity in the colonies and in overseas countries. Among the latter, new imperialist powers are emerging (e.g., Japan).
Capitalism is dead, end of story. What we should do urgently in re-nationalise the utility companies before the same happens to them as has with the banks, because as we now all know, fat cats don't care about the continuity of the economy, they only care about themselves. Capitalism is still here, only that its learning curve took a steeper slope. The winners in the game are now learning, and have just discovered the luxuries of slow and productive, i.e. Capitalism is fine in my view, its current flaw is how it selects its leaders.
Capitalism is a globalizing force. An ancient process associated with the rise and fall of empires, it has brought unprecedented prosperity to the world. Capitalism is good for the soul. It is the only system where the soul and the self can flourish, where individuals have a right to their own life and liberty, and can make the specific choices in the pursuit their own particular happiness. Capitalism is the social system which now exists in all countries of the world. Under this system, the means for producing and distributing goods (the land, factories, technology, transport system etc) are owned by a small minority of people.
Capitalism is entirely capable of establishing itself in such a way that is contradictory to a populus' best interests. Please do realize though that the most commonly used definition for anarchy is that of a governing system, whereas Capitalism generally refers to an economic system, and you must be careful not to attempt to compare apples and oranges. Capitalism is showing itself capable of destroying human society, but it has also created its own grave digger, the working class, that can preserve human society and raise it to new levels.". Capitalism is what happens when people can own property, keep profits and use money to make exchanges. We'll know the crisis has passed when it gets back to something like normal.
Capitalism is now bankrupt and the only answer is a worldwide planned economy - SOCIALISM. Capitalism is about profits; the profits evidence of how unintentionally kind and virtuous capitalism actually is. That is so because it is profits that tell us who among the capitalist class is doing the most to remove uneasiness from the lives of others. Capitalism is a game in which the rich manipulate the rest. Capitalism steals the very soul and replaces it with artificial needs.
Capitalism is trying to euthanize democracy in the name of economic competitiveness - and that is going to make this country a very different - and in my opinion, a much scarier - one from what it once was.