Which is best capitalism socialism or communism?

The verdict is in, and contrary to what socialists say, capitalism, with all its warts, is the preferred economic system to bring the masses out of poverty and to make them productive citizens in our country and in countries around the world. Remember this: Capitalism rewards merit, socialism rewards mediocrity.

How are socialism and communism related?

Communism Vs. Socialism. The main difference is that under communism, most property and economic resources are owned and controlled by the state (rather than individual citizens); under socialism, all citizens share equally in economic resources as allocated by a democratically-elected government.

How does communism and socialism differ from capitalism?

Under capitalism, you work for your own wealth. Socialist systems emphasize equal distribution of wealth among the people. Communism. In a way, communism is an extreme form of socialism.

Whats better socialism or communism?

Both socialism and communism place great value on creating a more equal society and removal of class privilege. The main difference is that socialism is compatible with democracy and liberty, whereas Communism involves creating an ‘equal society’ through an authoritarian state, which denies basic liberties.

How is socialism similar to capitalism?

One similarity between capitalism and socialism is that both systems consider labor and capital to be the primary economic forces. Both capitalism and socialism agree that the world is composed of a variety of natural resources that are for the most part value-neutral until human labor imparts value to them.

Is socialism a form of capitalism?

Socialism is a Form of Capitalism. In socialist and communist nations , the state essentially acts as a large capitalist firm. Production is still rooted in wage labor and generalized commodity production. Participation in the world market still occurs, though certainly a different set of regional constraints are put in place via the state.

What are the forms of socialism?

Social democracy is a form of socialism that tries to mix parts of communism with capitalism. In this system, the government redistributes wealth from the rich to the poor like a communist state, but people can also run their own businesses and own private property like a capitalist state.