Differences and Similarities
Capitalism and communism are two political and economic systems that completely contrast each other in different aspects. The two have differing beliefs, whether it is theory, purpose, government involvement or ownership. Here are the distinctions between capitalism and communism. Capitalism is characterized by the concept of private or corporate ownership – property as well as … Read more
Socialism and communism are sometimes used interchangeably in some settings, and thus are oftentimes confused. Here are the differences between socialism and communism. Socialism started making its rounds near the end of the second world war, making it an older concept than communism. The focus of socialism is an equality-based society – every individual has … Read more
Communism is the extreme form of socialism. Nowadays there are several countries with dominant socialist parties, however very few of them can be considered communists. Sometimes, both terms can be confused between each other and used indistinctly. This is incorrect. Both philosophies have their very own particular traces. One of the most important difference is … Read more