Capitalism vs. Socialism: the differences between the two.

Capitalism and Socialism are very different. Capitalism, for instance, is an economic system where the production of goods is regulated by the people as well as the selling of goods. People own most of the companies, not the government. Their market is reliant on supply and demand. This causes companies that are incompetent to go out of business, and efficient companies to prosper. It also offers the consumer a better quality good for the least …

…and etc. both societies need to have both government companies, and privately owned businesses. Such as the military buying airplanes from Boeing instead of building their own aircraft. This helps the small businesses. But the government provides jobs for the people in the military, police and other government fields. References Curry, Tim. Jiobu, Robert. Schwirian, Kent. (2002). Sociology for the Twenty-First Century. Chapter 8, 226-232. The Capitalism Site (2002) The Unknown Ideal [On-Line]. Available: http://www.capitalism.org