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Communism Vs Capitalism Research Paper

1216 Words5 Pages

Capitalism and Communism are economic systems of production and resources of a society. The theories of Capitalism and Communism are direct opposites, they never go together and are theories that are not fully functioning today.
WHAT IS CAPITALISM AND COMMUNISM?
Communism is defined as a group of people that share a lot of things, e.g. food, money and land.
Capitalism is almost the opposite to communism, you do your own work, own private property, have your own income and many more.
CAPITALISM THEORY
Capitalism was invented by Scottish Philosopher, Adam Smith, with the main difference being the private ownership of production and individual economic freedom driven through market competition.
Capitalism gives autonomy to individuals, where …show more content…

Property and resources are privately owned and we have the right to vote for our government. The market competition is a key focus of Capitalism
DIFFERENCES
Communism Capitalism
• Totalitarian Government/Leader • Democratic Government
• Equal outcome for all members of society, socially and financially. Community rights and society seen as a whole. • Equal Individual opportunity, freedom, rights and profit for control over individual progression.
• A Government controlled and run economy, determining what goods, how produced and at what price. • Free market economy. Self regulated economic system through market competition, supply and demand changing the price individuals set with little government interference. Monopolies develop.
DISADVANTAGES AND ADVANTAGES OF THE COMMUNISM THEORY
Disadvantages Advantages
• All employees paid the same, removes competition. • Equality for all, regardless of their family wealth, education or net worth creating a classless …show more content…

The ideal of providing a communist community for the equality of all, presents a number of issues and historic failures in practice. Generally these failures have been caused by corrupt powerful leaders, dictating and creating fear rather than working in harmony.
Whereas, Capitalism divides the population into classes based on net worth, with the weathly continuing to gain at the detriment of the lower working class, with little government regulation and increased poverty. Communism Capitalism
You get an even income You get an uneven income
You do not get to choose you Government/leader - Totailtarian You can vote for your Government - democratic
You share your property and life You can own private property and private life
Monopolistic market/no free enterprise Market Competition/free

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