Capitalism vs Socialism - Which Is the Moral System?

Different social systems are built on different sets of values and perceptions of the world. Political science offers some means of comparison between capitalism and socialism and the various ways, in which the two ideologies are applied around the world (for some practical implementations of the two systems of government deviate substantially from their theoretical foundations). History offers insight into societies that have adhered to both ideologies with various degree of success and allows one to make conclusions based on past events. However, neither discipline can give a definite determination regarding the superiority of one social order over the other. An argument from the point of view of ethics must consider the conclusions and consideration of both history and political theory to determine the moral specifics of both capitalism and socialism. The decision which one is superior depends on one’s views on what is moral and what is not.
The research question proposed is rather abstract: which social system is “moral.” The Merriam-Webster Dictionary defines “moral” as “relating to principles of right and wrong in behavior”, “conforming to a standard of right behavior” and “expressing or teaching a conception of right behavior”. The common word between all definitions is “right”. What is “right” and what is “wrong” depends on the individual values of each person. The same dictionary describes “social system” as “the patterned series of interrelationships existing between individuals, groups and institutions and forming a coherent whole”. Therefore, a thorough examination on the morality of the two systems must consider the relationships of people with other people and with institutions. It must also evaluate the coherence of each society. This essay will attempt to explore the moral assumptions behind both systems. It will describe the moral pro-s and con-s of capitalism and socialism and their practical implementations. It will then present an opinion