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Socialism is that idea that the government should intervene with the economy and many other things. However, in Capitalism people own their own property not the government.

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Capitalism is people are allowed their own property and socialism is everything being owned by the public

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Capitalism is involved with the trade system and people get to own their own land

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Capitalism has privately owned production and companies, while communism has everything publicly owned by the government that hands out things equally.

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Capitalism is where private property is owned, companies are privately owned

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The Laissez-Faire was where the owners of factories controlled the laws and conditions of their factories without any government interference. Communism is where the people revolt and take control of the government, the factories and property.

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They both are ideas about how to run the economy, but capitalism gives the businesses control and socialism gives the government control.

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wanted to make factors of production private

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Communism, createdby Karl Marx, it is the belief that all property belongs to the people and that everyone should work and get paid according to their abilities and needs.

Socialism: the belief that production, distribution, and exchange should be owned or regulated by the general public

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Capitalism: based on private ownership, individual economic freedom, free competition, supply and demand
Communism: no private owner ship of property, property should be shared, each person works and is paid according to their abilities and needs

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In a capitalist society people benefit or are affected by their success and failiure and this determines who does and doesn’t have the wealth. In communism the government distributes the wealth among the citizens

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Capitalism is a system in which people are allowed to own property and assets.

Communism is when the government owns everything, all property. It's like the government is loaning you a house and can take it back if they want. People are also sort of under the government's control.

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Capitalism is basically the contrary of socialism in the US. Capitalism is more individual and socialism is relying on the government for personal benefits. The US is capitalist which is good. There is a book called Animal Farm which displays the cons of communism which is similar to capitalism.

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Capitalism is for the benefit of privately owned corporations and socialism is benefitting the public

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Capitalism is based on private ownership of something and creating gods for profit. Socialism is social ownership of production (ex. cooperative enterprises)

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Socialism focused on the well-being of general citizens in its infancy. While capitalism which had been developing for a while

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Capitalism is when there is a free market, meaning freedom of competition. Capitalism relies on the invisible hand of the market. Socialism does not allow competition and the government owns and control pretty much everything. There is no private property.

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Capitalism is an economic system that has factors of production privately owned and money is invested to make some profit.  Socialism is also an economic system that has factors of production.  Instead, it is owned by the public and operated for the welfare of all.

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socialism calls for having wealth be more of an equal thing while capitalism calls for everyone being accountable for their own initiative

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Socialism is the idea the everything is owned by the public, and the rich should spread their wealth with the poor. There is no private property to promote equality. Faire is the idea that there are unregulated policies to promote self interest, competition, and supply and demand

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Capitalism is where the person

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laissez-faire meant no government interference with workings of free market. Communism allowed property to be publicly owned. each person is paid according to their abilities.