Invested by owners which may be borrowed. Workers are pushed to work for the fame of the state. Profit and wages depends on the person's ability and willingness to work Wealth is distributed as per needs and ability.Ībsence of competition with State-owned market

Content: Capitalism Vs CommunismĬapitalism is an economic system in which the trade and industry of the economy is owned and controlled by private individuals, to make profit.Ĭommunism refers to social system in which country's trade and industry are controlled by the community and the share of each individual relies on his ability and needs.Įvery individual has to work for himself to create wealth. Take a full read of the article given below, to have a clear understanding of the differences between capitalism and communism. These two political theories are in opposition to each other as in the former promotes private ownership, the latter stands against it.

On the other hand, Karl Marx, a famous Philosopher, and Sociologist, from Germany, initiated the idea of Communism, in his book The Communist Manifesto, as a response to Capitalism.

Capitalism ii