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... Capitalism and socialism are two of the most common systems that are put into use today. ... Socialism by definition: "advocates collective or government ownership of factories and property." In contrast, capitalism is defined as "an economic system in which the earning of production and distribution are privately or corporately owned. ...
Socialism is not frowned upon by society as communism is, but we must not forget that communism is but an extreme form of socialism. ... At first, there are many appealing factors to socialism, but you must remember that in return, taxes are extremely high. ... The only significant similarity between socialism and capitalism is that some businesses are still privately owned in socialistic societies. ... Since socialism is in ways, a mix between communism and capitalism, there is generally no coercion or fear on a socialistic society. It is the mere fact that socialism is a stepping stone to a communist society that makes it so dangerous.
Approximate Word count = 685
Approximate Pages = 2.7
(250 words per page double spaced)
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