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Capitalism vs Socialism vs Communism

January 6, 2009

An essay on capitalism and socialism in an exam that I appeared prompted me to write on this topic. Normally Socialism and Communism are considered to be the same. However, there’s a very thin line of difference between the two in turn confusing most of the people. Here are the definitions of these 3 in layman’s language:

Capitalism - An economic system based on the “Survival of the fittest”.

Socialism – An economic system based on “You get your share no matter what your contribution is”.

Communism – An economic system based on “You put in your fair share, you get your fair share”.

 

What each of these terms mean to an economy can be described as follows:

CAPITALISM

This term was first coined by Karl Marx to describe a system in which small group of people own large amount of money, land, resources. It puts all the economy is the hands of wealthy business people with the only aim of maximizing profits. Such economies remain free of government intervention with all the policies being determined by private individuals. The result is monopoly, and a huge gap in the earnings among the employer class and the worker class. Though its very good for trades and industries to flourish, it can lead to worker exploitation and unethical business pratices. “Laissez-Faire” capitalism which means pure capitalism with no government intervention is said to have never existed in practice.

SOCIALISM

It is considered to be the transitional phase between the capitalism and communism. Thus, you would find all communists advocating for socialism because it lays the foundations for communism. It advocates an egalitarian society where everyone shares equal wealth and power. There is a considerable disagreement over how the distribution should take place. Hence, socialism can be said to be between extreme capitalism and extreme communism with it being nearer to communism.

Socialism is liberal. More people have say in how the economy works. 

COMMUNISM

According to Karl Marx, this is the final stage towards development of egalitarian society.  Here all the resources are state-owned and it determines its distribution based on the needs in an effort to bring about equality.

Communism is conservative. Fewer and fewer people  have any say in how the economy works. By using state coercion to fulfill unmet demands, it restricts individual freedom. Communism necessarily takes the form of totalitarianism, or the tyranny of all over one since its upto the state to decide who gets what. Historically, communist societies have been characterized by the absolute rule of a revolutionary party leader, beneath whom everyone is equally subservient. 

It becomes very difficult for such an economy to survive in a large population when it becomes difficult for equal distribution of resources.

 

                             One can safely say that its the mixed economy (a bit of all the forms of economies) that in today’s age serve most of the countries well (US minus recession being a prime example). China also with its centrally planned economy is moving towards market-oriented economy thus becoming a mixed economy.

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61 Comments leave one →
  1. Editor permalink
    February 5, 2009 4:03 am

    The difference between socialism and capitalism? Under socialism, banks are first nationalized and then go bankrupt. In the capitalist system it appears to work the other way around.

    Read more on Crunchreport.com.

  2. February 21, 2009 11:52 pm

    And strangely enough, even Adam Smith, Keynes, Ricardo and other pro-capitalists predicted capitalism’s demise…! Here’s the link:

    http://bigotblog.wordpress.com/2008/10/24/will-capitalism-end-the-post-capitalist-world/

  3. April 28, 2009 6:47 am

    You seem to be confusing the actual terms with the way they have been distorted by the capitalists and the communists throughout modern times. Capitalism is not about being “free of government intervention” and “policies being determined by private individuals”- quite the opposite actually (read “Profits Over People” by Chomsky for a full understanding on this topic). Socialism is not some kind of midpoint between capitalism and communism- actual advocates of socialism consider it to be an end in itself, not as a transition to anything. And it’s certainly not “liberal.” And your definition of communism only applies to State communism.

    I would just advise you to start over and pay more attention to what the advocates of each position are actually saying.

    • Johnny permalink
      October 6, 2009 10:30 pm

      I agree.. this article is not accurate.

    • Ginger Sarmento permalink
      June 2, 2012 1:07 pm

      Thank you, Francois, for getting this guy straight. Much of the ignorance in the world comes from this sort of “speak/write first and think later” mentality.

  4. July 24, 2009 11:48 pm

    The problem is, who decides what “your fair share” is? In capitalism, you decide your own fair share by how much you work. The compensation is equal to the effort.

    • August 13, 2009 7:39 am

      In no way does compensation equal effort.

      • Ginger Sarmento permalink
        June 2, 2012 1:42 pm

        Basically, the people who work the hardest don’t even pull in $30,000/year. So, let’s stop with the fair share nonsense. Large investors can triple their wealth with the blink of an eye–how is that fair share or working hard? Considering that most mega investors started with “inherited money” or famous “family name,” how is that working hard?

        While Joe Blow works 80 hours per week doing hard labor to support his family, Paris Hilton builds an Empire while getting drunk and partying every night. How is that fair share?

        Out of 7 Billion people on this planet, there are approx. 200 Billionnaires and they own all of the mega-corporations. A tiny % of them got it the old fashioned way, by Working Hard–among them Bill Gates, Steve Job, Mark Zuckerberg, etc. but the majority of today’s wealth was handed down from generation to generation. So how is that working hard?

        Capitalism with regulations that protect the people can work, but what we have today with no stops to corporations eliminates any chance for the average middle-class to thrive again. Thus the rich get richer while the middle-class gets poor.

    • Libby permalink
      April 11, 2012 12:48 am

      Exactly!! People these days want something for nothing. Get a job, get an education, do something with your life…the only thing holding you back from attaining your dreams in a capitalistic country is you!!

      • dsb permalink
        April 11, 2012 1:03 pm

        Think of these political/economic/social systems when applies to a middle-tier/lower-tier nation, any average nation.. How would they fare there? How would they contribute to the development of the welfare of the people, the nation? OR In what ways could they denigrade the same?

        Developed nations may have concepts like social security where an individual does not fear for survival, which in my opinion is a form of socialism, but what happens when capitalism applies to an average nation. The nation does not have good enough infrastructure, insufficient funds to provide a social security, great levels of inequality between the rich/powerful and the poor/weak. Biased political/social/economic system, played at the hands of the rich/powerful. Here, there is little hope for the poor/weak to grow, even survive. People try resorting to short-cuts, break laws, practice malpractices to achieve something which otherwise they only dream of achieveing. The RIFT is the main problem. If not eliminated, it should be narrowed atleast, ceilings should be introduced and strictly monitored. No position, no goal should feel unachievable, so the people do not lose hope and give-up on straight means, on humanity.

  5. josiah permalink
    September 4, 2009 3:06 am

    in capitalism people get what they get based on gifts, talents, hard work, and education.
    -millions of people making millions of decisions based price

    in socialism people get what they get based in large part by state intervention. more regulation. more oversight.
    -fewer people making millions decisions based price and guilt and the desire for power.

    in communism the government is all there is. the individual is nothing. does not exist.
    -everything in the economy is centrally planned, very few make all the decisions

    if you would like to learn something research conversations between margaret thatcher and gorbachev.

    or check out Yeltin’s first speech to communist students in russia after his first visit to the united states…more specifically a houston grocery store.

    more than that…search out someone who left the USSR and came to america. just ask them which is better for people.

    • Johnny permalink
      October 6, 2009 10:41 pm

      #

      in capitalism people get what they get based on gifts, talents, hard work, and education.
      -millions of people making millions of decisions based price
      ::: This is true. But you can also add “inheritance, interest and investment (‘takes money to make more money’) nepotism and clannism (it’s ‘who you know’), luck, cutting corners, cheating people”, and a number of other factors- some of which necessitate some degree of regulation.

      in socialism people get what they get based in large part by state intervention. more regulation. more oversight.
      -fewer people making millions decisions based price and guilt and the desire for power.

      :::You can also say that in socialism people get what they get based in *some* part by state intervention. some regulation. some oversight. ::

      Pure capitalism leads to the economic equivalent of “Lord of the Flies”.

      in communism the government is all there is. the individual is nothing. does not exist.

      ::Actually, it is *classes* that are not supposed to exist- not individuals. And socialism is an end in itself and not a ‘means to’ communism. :::

      -everything in the economy is centrally planned, very few make all the decisions

      if you would like to learn something research conversations between margaret thatcher and gorbachev.

      or check out Yeltin’s first speech to communist students in russia after his first visit to the united states…more specifically a houston grocery store.

      more than that…search out someone who left the USSR and came to america. just ask them which is better for people.
      Reply

      • Libby permalink
        April 11, 2012 12:56 am

        That’s the problem with people today, they are jealous of what others have and think they got to where they are because of inheritance, luck, cheating, etc etc. I grew up in a poor family in a one bedroom apratment. I’m now a wealthy man, which would not have happened in your government regulated world. Wake up and do something with your life. I busted my butt to get to where I am, and now I have libs wanting a piece of it because they’re too lazy, scared, lack the capacity, stubborn, jealous, to work hard and do it themselves.

  6. William permalink
    November 18, 2009 2:42 am

    dumbass us is capitalism just an abs cued form of it

    • Ryan permalink
      February 22, 2011 1:19 pm

      What the fuck are you trying to say?

  7. Mike Torres permalink
    December 3, 2009 9:21 am

    So some people in government and some people from big companies are against intervention by the state when they are making good money. But when the banks fail and the economy tanks now they want intervention? It seems they only want help when things get bad, they should have got a little help here and there so that would have never happened. Capitalism is great, but if only fueled by greed then the end result is never good.

  8. Jackie Durkee permalink
    December 27, 2009 8:39 am

    Capitalism and the Free Market is the best way to go if government will keep their big nose out of it and let it truly work.

    It is all about supply and demand and competition.

    A company makes a great product or provide a great service to the consumers. They run their business wisely. The government ensures there are no monopolies, so there is healthy competition (it doesn’t not accomplish this by making themself the competition).

    In this type of environment, everyone excels (employers & employees).

    When government screws it up, then capitalism does not work properly, abuses occur, and the economy tumbles.

    • Rocky permalink
      November 24, 2010 3:18 am

      Jackie Durkee?
      Unrestricted free market capitalism is not great when you have rivers that catch on fire and kill children who drink the poisons company’s dump into them. When the poor youth have no education options except violence and theft. When making money is the ultimate goal it breeds corruption and greed.

      Plus how is government supposed stop monopolies when it cant restrict capitalism, you contradicted yourself there.

      Socialism is the only solution. It’s goals are to provide for the basic needs of the people; heath, education, clean environment. The better off the lowest are among us the better everyone is. Yet unlike Communism it still lets those who work hard make something of themselves. Government is socialism. So we need to stop thinking it is the same thing as communism.

      • Ginger Sarmento permalink
        June 2, 2012 2:04 pm

        Well said. Why can’t people get that? Socialism is the best form of government and already exists in America in the form of: public libraries, public schools, police dept, fire dept, building roads & bridges, repairs, etc. The only part that’s missing is health care for all its citizens which could save billions by providing preventative healthcare to the uninsured so they don’t have to end up in emergency rooms thus costing multi-millions to the taxpayers. Almost every democratic country in the world provides healthcare for all their citizens. As they say…the greatness of a nation is measured by the way it treats its young and its elderly. So, does Super Power mean great? … I don’t think so!

  9. March 7, 2010 8:06 pm

    Anyone can write anything they want in a blog.
    Just make sure you compare and contrast articles the same way an artist uses his medium.
    Think it through…you decide.

    • Ankit Agrawal permalink*
      March 7, 2010 8:29 pm

      @Patricia: May i know the fallacy in the article?

      • Jon Boid permalink
        March 22, 2010 7:58 pm

        I have found through experience that those who favor socialist and communist ideas have never owned business and base their theories not on experience but instead on books and the ideal situations they live out in thier heads. Often big hearted but usually with no understanding of the human condition. I own a business that requires work and results. If I show up to my business, look at the wall and do not work to provide a quality service or product then I do not earn a living and that is a fact, not a theory. With some exceptions I have found that many highly successful business people I have met have found ways not to rip people off but instead influence and helped the most amount of people achieve their desires. Corny but true. Long term profits often are a score on social contributions in a capitalistic society.

  10. Melissa permalink
    March 24, 2010 7:00 am

    All the economies are mixed, and they should be. Some things are best done by government and some best by private enterprise. The difference of opinion is in how much should be left to one or the other. What we have today is the worst of both worlds. The government takes tax money and gives it to private business who make a profit with public money. I don’t just mean the bank bail outs. Private mercenary armies, private prisons, private ( but paid by the government ) schools, hospitals , large agricultural businesses and much more. Either a business should make a profit and support itself by selling goods and/or services or the government should provide the services as cost, ie non profit.

  11. Kensal permalink
    January 21, 2011 5:32 am

    I think that people make too many generalisations about capitalism, socialism and communism.
    They say that all capitalists want is money for their own selfish greed, while this has proven to be mostly true in society, people tend to forget its what money represents to the individual: a product of hard work, of struggle and of achievement. There are some businessmen who strive for what they want without thoughts of exploiting everyone for their own gain.

    In terms of socialism…everyone can agree to some extent that its good in theory but its proven in reality that strict government regulation esp. over the economy just gives way for corruption and power hungry individuals who use the guise of ‘the public welfare’ to get what they want.

    I dont think that the structures are to blame its the moral dispostions of the people who use them. History seems to show that self-intrest is the main motive for human action and capitalism is the only system which isthe most up front and truthfull about it.

  12. Shaun permalink
    August 28, 2011 7:20 pm

    the only people who want socialism are the people who don’t want to work. give me something for nothing

    • Jonathan permalink
      September 27, 2011 2:16 am

      The idea is that you get what you need, not what you want, socialism allows people to get money so they can have what they want, but it eliminates the neccesities like shelter, food, water, and energy (electrical). Lets say you want to be an artist or a musician, but you can’t because there is not enough money made by those markets, only the best can make decent money. But in order to get something you want, you gotta earn it by working.

      • Raven permalink
        October 14, 2011 7:15 am

        That is the Pure form of socialism, however the human intervention in the system the government and ppl in power will corrupt it with their own greed and lust for power. In order for it to work one would have to either take out the human component or find a human that cannot be corrupted by power or greed, which are few and far between.

        how can you advocate for those who are a drain on the economy? those who do not currently work (those who chose not to work) are already on supplemental income ie. welfare and food stamps, are already a drain on the economy and the taxpayers.

        Does any one truly know the perfect form of government and economy? One in which those who control cannot take advantage of the people, and the people have true freedom.

    • Cobi permalink
      July 13, 2012 10:17 am

      Shaun that is an ignorant statement. I lived under socialism in Germany for many years. Everyone does want to work, earn a paycheck, and enjoy the fruits of their labors, just like in the U.S. The difference is that people also enjoy quality of living in the forms of healthcare and other benefits such as six weeks paid vacation each year. Are the taxes higher? Sure. But you get what you pay for. To say that socialists are just lazy and want to live off others is completely false.

  13. September 4, 2011 1:40 pm

    ?

  14. September 4, 2011 1:43 pm

    Communism is Evil…

  15. dsb permalink
    October 15, 2011 11:31 am

    I am a tech professional, no formal education in social sciences, just know the basics. But as a layman, i’ve tried relating these basics with the existing societies and the people living in them; based on the same i try deriving logical opinions about societal systems that used to exist, exist now and could exist later.

    Capitalism as a thought is okay, but in reality drains people out. Drains them out of energy, morality, traditions and worstly, it sucks humanity out of them.

    No doubt there are good people – good businessmen, politicians, army generals, monarchs who think good and try to do good for the people. But their actions over a period of time, tend to surrender to the actual societal conditions prevailing around them.
    “Too much spontaneity leads to explosion”.

    Evolution is good, but it is important that we question ourselves; is each individual, each nation of equal calibre, at equal footing to be competing against each other?

    John J Rambo once said “Why’re you pushin’ me.. Don’t push it too far or i’ll give you a war you’d have never imagined”.

    It would not be human and definitely not wise to push a poor / underprivileged human or nation into a race which has “NO-BOUNDS” and follows few rules. A race where someone runs on steroids, other is allowed to run on a Ferrari and then there is a third who does not need to run, he gets teleported to the finish line.

    If one needs to lead a quiet peaceful life (one may not not be born with good brains, physique, talent), one could have an option to. You do not eliminate him.

    When we the human beings are the fittest (among the living species), why insist of further selecting the fittest among us, that too on unequal grounds.

    I cannot say which system is better. Maybe come up with a new one..

    • Jared kengara permalink
      November 19, 2013 8:56 pm

      Of course none of them is perfect,but God has promised his rulership will be perfect,in Daniel we’re told when he returns 1st he’ll crush all earthly kingdoms!

  16. dsb permalink
    October 15, 2011 11:39 am

    I am a tech professional, from a powerful developing nation, have no formal education in social sciences, just know the basics. But as a layman, i’ve tried relating these basics with the existing societies and the people living in them; based on the same i try deriving logical opinions about societal systems that used to exist, exist now and could exist later on in the story of human beings.

    Capitalism as a thought is okay, but in reality drains people out. Drains them out of energy, morality, traditions and worstly, it sucks humanity out of them. This applies to every section of the society, only a very few exceptions.

    No doubt there are good people – good businessmen, politicians, army generals, monarchs who think good and try to do good for the people. But their actions over a period of time, tend to surrender to the actual societal conditions prevailing around them. They wear out.

    “Too much spontaneity leads to explosion” they say.

    Evolution is good, but it is important that we question ourselves; is each individual, each nation of equal calibre, at equal footing to be competing against each other?

    John J Rambo once said “Why’re you pushin’ me.. Don’t push it too far or i’ll give you a war you’d never have imagined”.

    It would not be human and definitely not wise to push a poor / underprivileged human or nation into a race which has “NO-BOUNDS” and follows few rules. A race where someone runs on steroids, other is allowed to run on a Ferrari and then there is a third who does not need to run, he gets teleported to the finish line.

    If one needs to lead a quiet peaceful life (one may not not be born in a sound family, might not have good brains, physique or any talent), one could have an option to. Just because in the capitalist societal encyclopaedia they’re not fit, you do not eliminate them or even try creating such situations. You need to protect them.

    When we the human beings are the fittest (among the living species), why insist of further selecting the fittest among us, that too on unequal grounds.

    I cannot say which system is better. Maybe come up with a new one..

  17. kae permalink
    November 21, 2011 11:52 am

    Competition serves as a driving force for people to give their best shot in everything they do. It’s not a way of draining them out but it’s a way of letting them realize as to
    “what more” could they give in order for them to survive.

  18. trushatg permalink
    November 23, 2011 4:15 pm

    These are all good points made, but in my opinion all 3 are good economic systems. The problems arise from human error. We could devise the perfect system, and it would wither in the hands of bad people. Even totalitarianism coupled with communism could work if the leader kept the best interests of the people in mind; however this is not case.

    There are several problems I have with capitalism, and I will address some. By nature, capitalism creates a competition between everyone. This forces people to pursue their own interests and personal financial security. Capitalism only creates inner circle unity between friends and family. It forces people to feel the need to take more at the cost of others that they do not know. Basically, it creates a ‘bubble’ mentality where people feel unaffected by the tribulations of people they do not see. Additionally, capitalism suggests that all people are not equally important to society. This is created through uneven distribution of wages between workers and employers. This is created, because, in capitalism, money is the motivation and driving force behind all actions. For instance, I go to college for 4 years, eat ramen noodles and frozen pizza for every meal not because that is good nourishment (it’s actually terrible for you), but because that is what my economic status enables me. Consequently, all of our daily life decisions are refined down to one defining question…Can I afford it? Can I afford to live in this house, or eat this kind of food, or travel here, etc. The reality is, capitalism addresses societal issues backwards, whereas socialism and communism put them in the forefront. Capitalism addresses social issues from an economic perspective not as actual social issues. It forces individuals to pursue money in order to achieve their goals, because after all without money you literally cannot do anything: travel, eat, sleep (on a park bench maybe), call friends and family, etc. These essential necessities should be afforded to every human being regardless if he or she works a day in his or her life. Capitalism takes advantage of underprivileged societies by giving lower wages to employees in other countries (this is obviously determined by the grand idea of the free market) when they are performing the exact same duties that another person in the US would perform. This idea of the free market allows for indirect extortion to be rationalized as a good business decision. It says, “Well, at least were helping provide employment to these impoverished people.” In reality, its just a method of taking advantage of other people in order to pursue selfish ambitions. Our economic system should promote the idea of cooperation and pursuing common interests. The most profound concept I have learned is that if we all pursue common interests then we will all indirectly achieve our own goals in the process. For instance, if we all worked together to ensure that there was a renewable source of fuel, we would ensure our own personal ability to travel the world. The largest problem with capitalism is that it forces the maximization of profits. Competition forces companies to seek new ways to lower prices, which comes at a cost to quality. For instance, beef farmers resorting to steroids and other hormones to decrease the fattening period for cattle, in order to be able to sustain a profit. Ultimately, we are no longer eating beef anymore, but some artificially altered substance similar to beef. But it’s okay, because it costs less money.

    Finally, according to capitalism, economic value is assigned to each job, ultimately ranking its importance in society. This is done indirectly obviously, but nonetheless it occurs. When a business owner decides to pay himself more than his fellow coworkers (really ‘hired help’ b/c they are not valued as equals) In reality, every person and every job is equally and vitally important and interrelated. A business owner cannot run a business without employees. Both need each other. Capitalism fosters the creation of corporations to generate wealth for individuals and the economy. Today, corporations have ‘lost their humanity.’ Corporate decisions are based on generating income for the company; however, these companies should oriented to serve the needs of the people first. This is what socialism and communism effectively address. The argument that socialism and communism allow people to skate by with little or no work is absurd. If you do not put your share of the work in you will not get your share back. Some have commented that with communism or socialism individual motivation is lost; however, we have yet to see an honest attempt at a healthy communist or socialist state. Ultimately, if you really think about it, capitalism cannot continue in the US at this rate. There is a growing disparity between the lower and upper class, with the middle class sinking into the lower class. Capitalism has forced indirect slavery on many people who are now in financial turmoil and are indebted to banks and other individuals (foreclosures and tax liens). This sickest part about this is that many people are now profiting off of the misfortune of these people who are victims of bad happenstance. And that my friends, it capitalism at its finest!

    P.S. = Think for yourself, all forms of media are businesses as well. Much of what has been said about this topic is merely regurgitation from unreliable sources. They make business decisions and these often times contradict what is good for the people as a whole. If you really want to know about these topics read about them in their original form. Knowledge is power.

    Also, many of these statements I have made are generalizations. I know many businessmen and owners who are good people and do have the right intentions; however, my point is that capitalism promotes the opposite.

    • dsb permalink
      November 28, 2011 10:17 am

      trushatg, very very nicely written.

      Looking through the eyes of a common man – in a capitalist society, most people, including myself, look for substitutes, sources of entertainment / distraction to look away from myriad of personal, social, job, family related issues lying in front of them (most of the times they can afford to, since in such a society even a labour earns enough to have fun every now and then, but not enough to lead a secure life).
      But these small consolations are temporary and each morning, people wake up to newer and bigger challenges – not knowing what this day has in store for them – in their house, outside, on the road, in the market, the job.

      Too much adventure and suspense for everyone; even when not asked for.

    • ben permalink
      February 8, 2012 10:42 pm

      Best comment ever

  19. Corran Vincent permalink
    April 3, 2012 2:00 pm

    Jon Boid
    I have had my own business with up to 8 employees at times. And yes I’ve worked hard. However I still (as I’ve always done believe) in Socialism. I believe the State should provide the basics. Like free education, Social welfare. Policing. justice system. free hospitals etc. From were I sit Capitalism is dog eats dog. law of the Jungle. Society this not a society I want

    Corran Vincent

  20. Ginger Sarmento permalink
    April 23, 2012 10:32 am

    The author of this article is so misinformed. Before America can be healed, it’s important that Americans become correctly informed about the differences between the various forms of government. America already practices many forms of socialism, e.g. public libraries, fire dept, police dept, public schools, and other forms of socialist programs–which is all good. It’s sad that it doesn’t also offer health care to all its citizens though as do many other democratic countries such as Germany, France, Canada, etc. since this prevents many people from thriving, not to mention the deterioration that could have been prevented through early diagnosis. Billions of dollars and lives could be saved by simply eliminating the middlemen in pharmaceuticals and health services, both of which charge astonomical costs which they don’t even disclose to their patients.

  21. Arun permalink
    May 29, 2012 10:14 am

    “Survival of the fittest” belong to jungle, so we must not follow that

  22. July 13, 2012 10:25 am

    Trushatg, I totally agree with you. In a capitalistic system, MOST of the citizens focus not so much on the features of the products they buy, but what they can afford. When it comes to basic human services such as healthcare, this is an atrocious way to view it. Poor people don’t “shop” for healthcare based on individual plan features…they pray and hope by some miracle that they will be able to go see a doctor at all. As the class divisions grow ever deeper, a purely capitalistic system must eventually reach towards socialism, at least to a degree to survive.

    • Corran Vincent permalink
      July 13, 2012 11:05 am

      . As the class divisions grow ever deeper, a purely capitalistic system must eventually reach towards socialism, at least to a degree to survive.

      The reason they must reach towards socialism is they need to poor to do their dirty work.
      Communism and capitalism is similar in that the ones at the top in both societies live it up
      I.e. There were those in the Kremlin who lived it as much as those in the White House. There were still others in Russia doing very nicely perhaps not as many as say the US but still there were those who did and knew how to suck up to the system.
      A lot of the rich have got there on the backs of the poor. A lot dishonestly but then there where those in Communist countries who were also dishonest.

  23. August 8, 2012 6:55 am

    the articles are not accurate..
    communism, failed for many reason..

  24. Ros permalink
    October 9, 2012 4:12 am

    Thar’s B S on capatilism. The definition by Karl Marx was only in his mind.
    It is easy to forget that capitalism was coined not so long ago, in the mid-19th century, when the Industrial Revolution was in full swing, and individual entrepreneurs were creating new industries and amassing wealth. Terms for the other two major competing economic systems of the past two centuries— socialism and communism—were also coined around the same time. Also, about the same time it became common to designate all such coinages as “isms”: terms formed by adding the suffix -ism to a root word in order to expand its meaning to encompass a related system, theory, or practice. Thus from a fairly old word, capital, the relatively newer word, capitalism, was formed to describe the then emerging economies of the West. (Another towering ism coined later in the 19th century was, of course, Darwinism. )
    On the surface, the meaning of capitalism seems straightforward, referring to an economic system in which private individuals, rather than governments, own property and businesses. But beneath the surface, strong currents of opinion and theory swirl about the term. Many people fiercely espouse capitalism as an economic freedom inseparable from democracy, as reflected in several books considered classics and still avidly read today: for example, Capitalism and Freedom by Nobel laureate Milton Friedman (first published in 1962), and Capitalism, Socialism and Democracy by Joseph A. Schumpeter (first published in 1943). So it may be a challenge to use the term without triggering a discussion of its broader political context.

  25. Fida Hussain permalink
    February 21, 2013 7:34 pm

    good written but left no room of differences between socialism & communism

  26. Jared kengara permalink
    March 13, 2013 10:03 am

    I think,its indeed high time,the world economic policy makers and also stakeholders,swallowed their pride,and got their heads out the sand.Once and for all put these heads together and define a financial system that will cut across the three,communism,capitalism and socialism.This is inevitable because no single system has stood the test of time without calling help from the other(s).two this will solve the assumption that we’re in a capitalist world,putting leaders into test wherever they feel the otherwise will solve the problem better hence employ it.i conclude by urging that we’ll not only solve many problems arising from the same bcoz of the vacuum,but couldve saved a future generation from this elaphant in the govt system of rule.it couldve been done 30years ago.it aint broken ,let fix it now!

  27. Stuart Shepherd permalink
    April 5, 2013 2:18 am

    This guy must be completely retarded and a commie pinko fag at the same time all rolled in one. Collectivism, at some level, is always organized mafioso-style theft. We are somewhere between that and fascism (look it up) right now in the US, with a rim of capitalism still in place supporting it until it completely collapses and the thug crazies pinko fags and dykes start running the insane asylum completely.

  28. Christy Morrison permalink
    May 8, 2013 7:17 pm

    Sounds like your web site is a Communist/Socialist leaning site. Was going to get info for an essay,, but don’t want your warped ideas!

  29. corran Vincent permalink
    May 9, 2013 1:36 am

    Actually an example of a socialism system was the way that GOD set up Israel when they first came into the promise land, Land owner left the corners of the field so that the poor and the widows could come and get grain. They had to actually come and get it, It didn’t just fall out of the sky for them so they had to do some thing to get it. GOD only did that when they were in Sinai desert on the move he gave them Marna.

  30. dsb permalink
    May 9, 2013 9:25 am

    A real nice example! These self or administration driven contributions, that too in the form of primary goods, of direct and the most basic nature to the under-privileged are real charming examples of socialism inspired actions. One could claim that taxes are a form of administration imposed contribution to the society, but each one of us has witnessed that when you are just contributing money, there is little emotions attached to the act of payment of tax, little sense of actual contribution to the society. It’s always a better option to contribute in the form of primary resources, contributing through charity, self labor or work (skilled or unskilled) for example, which provides a higher sense of association with the society, self-achievement and satisfaction. The contribution is more humane, affects people’s lives more directly, inspires others to perform similar acts, provides greater hope to humanity.

  31. dsb permalink
    May 9, 2013 9:53 am

    Hey! Everyone on this planet could be seen as or termed biased by the other, things are so relative. Name one person who is not biased in the eyes of the other. So relativity always exists. There is no such thing as a neutral view – because if you see that view from the eyes of an American Vs a Chinese Vs an Iranian Vs a Somalian, the same neutral view would appear biased to each one’s perception. So you should not shy away from putting up some view which in your or some other’s perception is a biased view. This could be entirely neutral to the person living, say in one of the third world countries.

    The important thing that is common to all, and to be stressed upon in the present times is Humanity. There is an immediate need to work towards setting-up a socio-political system which would help people live contented / at peace / prosperous or whatever the formative elements of a Utopian state might be. In the present times, many principles behind socialism are seen as possible means to come out of this highly objective and material driven world. Why? Because most of the world population who is actually participating in discussions on topics like these, i.e. those with an access to such sources of communication as the internet where one could freely express and exchange views with the global audiences, are the people living in countries where atleast the basic human needs (Maslow’s need diagram) are satisfied. But, it is upon these people that the judgement and the power to make a difference to the ENTIRE world rests. In my opinion, these are also the people who would disapprove of several capitalistic principles and their implications as seen in the present day (these are not the times which inspired Adam Smith to advocate competition).

    In my opinion (which again is based on a limited experience and exposure), the biggest casualties of the capitalistic ways are CHARACTER and TRUST. Capitalism has caused serious damage to these two most fundamental traits of human-beings. Capitalist ways have led to promoting and supporting characterless people. Superficial characters and philosophies are being promoted and given a hype by manipulating and playing with soft and true human emotions (through movies, advertisements, other forms of mass-media). And the ever growing competition, and the associated malpractices and crime have shattered the foundations of human trust. Money, something artificial, not human, speaks ever-so-louder than the poor human soul.

  32. ajay babu.singineedi permalink
    May 12, 2013 3:52 pm

    every system is a good order of maintaining well established and progressive governance only when the people who are involving in the system are very eager and single minded to do and establish egalitarian society..what ever the system it is it will surely produce good fruits to all the people who are waiting to eat their desires and to be happy…this is the matter of people who are involved but not the system what is installed…

  33. August 1, 2013 12:48 pm

    I seldom create responses, however after reading a few
    of the remarks on Capitalism vs Socialism vs Communism | PowerBlogging.
    I do have 2 questions for you if it’s okay. Could it be just me or does it seem like a few of these comments come across like they are coming from brain dead individuals? :-P And, if you are posting on other places, I would like to keep up with you. Could you list of the complete urls of your social networking pages like your twitter feed, Facebook page or linkedin profile?

  34. Jared keng'ara permalink
    October 17, 2013 3:01 pm

    You are not accurate but to some good extent you’ve given much better explanation than many critics here can do,CAPITALISM,is more prefferent because the USA &Europe real sold it,the setup of capitalism favours the individuals who have more that donts in most cases its very difficult to reach the one who got fast,capitalism eventually sees the emergency of a handful very wealth class who’re masters,that even influence govts of the day to dance their tune,against a nation of poor men who are slaves of the view rich,in a capitalist state there every freedom but Not financial freedom because the limited resources is already in possession of few,and the eninvitable question is,if the state gives you every freedom but denies you financial freedom,is there really freedom?so in my own view freedom in a capitalist state is on the few masters,capitalism lays the basis of massive corruption of whatever one is entrusted actually in many capitalism states,money is acquired through corruption then launded(cleaned)especially during change of guard,this corruption is accelerated towards the capitalist mentality once ahead,forever ahead,and two as a way towards financial freedom and thus true freedom,class change from a slave to You are not accurate but to some good extent you’ve given much better explanation than many critics here can do,CAPITALISM,is more prefferent because the USA &Europe real sold it,the setup of capitalism favours the individuals who have more that donts in most cases its very difficult to reach the one who got fast,capitalism eventually sees the emergency of a handful very wealth class who’re masters,that even influence govts of the day to dance their tune,against a nation of poor men who are slaves of the view rich,in a capitalist state there every freedom but Not financial freedom because the limited resources is already in possession of few,and the eninvitable question is,if the state gives you every freedom but denies you financial freedom,is there really freedom?so in my own view freedom in a capitalist state is on the few masters,capitalism lays the basis of massive corruption of whatever one is entrusted actually in many capitalism states,money is acquired through corruption then launded(cleaned)especially during change of guard,this corruption is accelerated towards the capitalist mentality once ahead,forever ahead,and two as a way towards financial freedom and thus true freedom,class change from a slave to You are not accurate but to some good extent you’ve given much better explanation than many critics here can do,CAPITALISM,is more prefferent because the USA &Europe real sold it,the setup of capitalism favours the individuals who have more that donts in most cases its very difficult to reach the one who got fast,capitalism eventually sees the emergency of a handful very wealth class who’re masters,that even influence govts of the day to dance their tune,against a nation of poor men who are slaves of the view rich,in a capitalist state there every freedom but Not financial freedom because the limited resources is already in possession of few,and the eninvitable question is,if the state gives you every freedom but denies you financial freedom,is there really freedom?so in my own view freedom in a capitalist state is on the few masters,capitalism lays the basis of massive corruption of whatever one is entrusted actually in many capitalism states,money is acquired through corruption then launded(cleaned)especially during change of guard,this corruption is accelerated towards the capitalist mentality once ahead,forever ahead,and two as a way towards financial freedom and thus true freedom,class change from a slave to You are not accurate but to some good extent you’ve given much better explanation than many critics here can do,CAPITALISM,is more prefferent because the USA &Europe real sold it,the setup of capitalism favours the individuals who have more that donts in most cases its very difficult to reach the one who got fast,capitalism eventually sees the emergency of a handful very wealth class who’re masters,that even influence govts of the day to dance their tune,against a nation of poor men who are slaves of the view rich,in a capitalist state there every freedom but Not financial freedom because the limited resources is already in possession of few,and the eninvitable question is,if the state gives you every freedom but denies you financial freedom,is there really freedom?so in my own view freedom in a capitalist state is on the few masters,capitalism lays the basis of massive corruption of whatever one is entrusted actually in many capitalism states,money is acquired through corruption then launded(cleaned)especially during change of guard,this corruption is accelerated towards the capitalist mentality once ahead,forever ahead,and two as a way towards financial freedom and thus true freedom,class change from a slave to a master.

    • Corran Vincent permalink
      October 18, 2013 12:23 am

      Jared
      What you say is very true but so is communism to the ones with the power also doing the same to those below them too. Perhaps the main difference is that if you complain you are likely to find yourself worse off than before perhaps even thrown in jail.
      China and Russia had their rich and their poor too but with the so called freedom. In essence there is not a lot of difference only the ‘perceived’ freedom between American capitalism and communism.

      • Jared kengara permalink
        November 2, 2013 3:46 pm

        Vincent corrant,thanks men!

  35. February 27, 2014 12:28 pm

    I’m not sure if this is a formatting issue or something to do with web browser compatibility but I figured I’d

    • Corran Vincent permalink
      March 2, 2014 9:12 am

      SEO Experter.

      You seemed to have mixed the definition of Both Communism and Socialism up. More correctly.

      Capitalism – An economic system based on the “Survival of the fittest” every man for himself. It’s all right to walk over the other guy dog eats dog.

      Socialism, – An economic system based on “You put in your fair share, you get your fair share back out. If you don’t work you don’t eat.”.

      Communism – An economic system based on “You get your share no matter what your contribution is doesn’t matter if you don’t work you expect the state to carry you.”.

      Actually their is quite a difference between the two.

      As communism is about An essay on capitalism and socialism in an exam that I appeared prompted me to write on this topic. Normally Socialism and Communism are considered to be the same. However, there’s a very thin line of difference between the two in turn confusing most of the people. Here are the definitions of these 3 in layman’s language:

      Capitalism – An economic system based on the “Survival of the fittest”.

      Socialism – An economic system based on “You get your share no matter what your contribution is”.

      Communism – An economic system based on “You put in your fair share, you get your fair share”.

  36. chintu permalink
    May 20, 2014 6:39 pm

    Use your ability, gifts, skills to achieve your dreams.Not every billionaire was born billionaire, and not every billionaire’s son is a billionaire.

  37. September 25, 2014 7:04 am

    I have read so many content concerning the blogger
    lovers except this post is in fact a fastidious post, keep it up.

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