Core Differences Between Capitalism And Socialism

There are many critics of both capitalism and socialism in regards to which of these economic systems work and which does not. Regardless of which of these economic/political systems one believes to be the most fruitful or successful, the intent of this essay will be only to inform of a few fundamental and core differences between the two in order to determine which system is more moral and yields the best results for society. Three of these differences will be discussed in order to convey some of the core differences between capitalism and socialism to support the claim. These three thing that will be discussed to back the assertion that socialism has the moral high ground include: the placement of the means of production, availability of
In a capitalist society the means of production are for the most part entirely privately owned by individuals, the capitalists. That is to say that the facilities that mass produce all commodities for the collective of society as well as any associated trades, are privately owned by a few individuals. Essentially, production is carried on for profit as per the fluctuations of supply and demand. There is no guarantee that all those willing and able will always be in a position to find employment and subsequently an "army of unemployed" almost always exists. Under a socialist society, however, the means of production are collectively owned by society itself and are utilized in a planned fashion. This kind of planned economy aims to adjust production to the needs of the community and would distribute the work to be done to all those able to work. The end goal is to guarantee an equitable playing field for all members of society, thereby eliminating class distinctions based on
These equal opportunities expressed allude to the stipulation that people should be treated similarly regardless of artificial barriers or prejudices, in regards to the mentioned economic/political systems the primary variable in these barriers is money. In capitalist societies adequate health care is known to be fairly expensive and not everyone is able to afford it. The same goes for education of which college tuition is something that not all can afford and leaves many students in debt. This is commonly accepted as a customary rule or sacrifice one must make in order to have access to these opportunities. Furthermore, because private capital is concentrated in few hands capitalists are able to influence who gets into legislative bodies by financing political parties whose members share their interests rather than the peoples. Moreover, as those in positions of power and wealth have always been in, capitalists inevitably control, whether directly or indirectly, the many sources of information such as press and education. In contrast socialist societies seek to provide equal health care, education and employment opportunities for every member of society so that everyone has an equal chance to succeed or fail regardless of wealth or class. These services are treated