How Capitalism, Socialism and Communism are different from each other?
Answer:-
Capitalism:
• Every person has a right to earn money in accordance with the laws of land.
• No limit to earnings.
• Money can be used further to earn more money.
• They do not condemn exploitation of poor.
• To earn more profits, they use all methods to reduce the expenses.
• They try to use cheap labour and raw material.
• They go for bulk purchase to reduce transportation charges.
see also: Explain Maslow’s theory in detail also explain if this theory can enhance or check crimes.
Positives:
• The production goes high.
• Every capitalist tries to produce more and more commodities to earn profits.
• Encourage international trade.
• Economic freedom can be enjoyed.
Negatives:
• Exploitation of the workers.
• Capturing of market (Monopoly).
• Capital gets emassed in few
• Clashes evolves / strikes.
• Men are replaced by machines.
see also: Explain Maslow’s theory in detail also explain if this theory can enhance or check crimes
Communism:
Communism has changed whole political, social and economics structure of modern world. It has given a shock to capitalism and also introduced many new directions and dimensions to our thinking. Chief exponent of this philosophy karlmars is basic principals are
1. They believe only ideas can create actions and change the course of actions. The whole world consists of action and reaction. Ideas are the main thing.(dialectical materialism)
2. He believed that earlier the power was with the capitalist but the society is ever changing so every activity which influences economic activity can change the scenario.
3. Mas believed there is always a struggle between rich and the poor and have and have not. When the poor loss tolerance and revolt revolution comes.
4. The capitalist always pay much less capital to the poor people and the exploitation keeps on increasing therefore the workers must unite and fight because they have nothing to lose.
5. They believe the power should be in the hands of workers
6. The resources should be used for collective welfare or for the society as a whole.
7. They beliefs capitalist easily manipulates democracy to come to power. Constitution needs should be used to name changes but if necessary violent needs should also be used.
see also: Explain Maslow’s theory in detail also explain if this theory can enhance or check crimes
Socialism:
Socialism today has different innovations and conceptions it has become like a cap which has been worn by so many people that it has lost its original shape. Even the capitalist believe and claim that they are trying to include socialism. Even in India we find the different political parties claim to be socialist.
Basic principles of socialism:
1. The state machinery should not be overthrown by revolutionary means and methods they believe that revolution is the last option and it should be abided as far as possible.
2. All the citizens must be provided adequate wages and sufficient work so that they can live with their family and enjoy some living standards
3. Capitalism is condemned by the socialism they believe the system is unjudged and has done much harm than good to the society.
4. All key industries must be nationalize by the state and state should control the production and distribution of goods in these industries
5. All production should be in accordance with national and sociak needs rather than the profits
6. There should be no concentration of wealth at one place there should be equally distributed among people
7. Workers should be given due and proper share in the administration as well as the profit
8. Socialist also believes that taxes should be so levied so that who have the capacity to pay should tax more in comparision to those who can’t pay.
see also:
Explain Maslow’s theory in detail also explain if this theory can enhance or check crimes
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