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 amount of money. Socialism on the other hand, is very different. In a Socialist economy, the government owns most of the prosperous companies. …