Capitalism is Similar to Socialism

1
Capitalism is Similar to Socialism

• Capitalism promotes the idea of private property
• Capitalism promotes the idea of individual
  ownership of the means of production

• Socialism allows for some private property and
  individual ownership of means of production

2
Capitalism is different from Socialism

• Capitalism emphasizes individual ownership of
  means of production
• Socialism emphasizes the society (or govt.)
  controls means of production of major industries

• Capitalism promotes competition
• Socialism promotes cooperation
• Capitalism favors laissez-faire
• Socialism favors government intervention

3

• Capitalism promotes working in own self interest
  (to benefit society)
• Socialism promotes working for the greater good
  

• Capitalism creates social classes
• Socialism works to gain equality (economic
  justice) for all
• Capitalism promotes individual effort
  individual reward
• Socialism promotes group effort and group reward

4
Socialism is Similar to Communism

• Both society owns means of production
• Both promote equality NOT social classes
• Both promote cooperation over competition

5
Socialism is different from Communism

• Communism promotes revolution to overthrow the
  bourgeoisie
• Socialism does not
• Communism promotes Dictatorship of Proletariat
  (temporary government to teach people to
  cooperate
• Socialism does not

6

• Communism promotes the disappearance of
  government. The economy and means of production
  controlled by all of society
• Socialism promotes the idea of a government
  controlled economy ( and means of production)

7

• From each according to his abilities
• To each according to his needs.
• - Karl Marx