What is the difference between Communism and Capitalism? - ProProfs Discuss
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What is the difference between Communism and Capitalism?

Asked by T. Lopez, Last updated: Jul 16, 2020

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C. Block

C. Block

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C. Block
C. Block, English Professor, M.A, Ph.D, Buffalo

Answered Aug 28, 2019

There are so many differences between communism and capitalism, which must be clearly understood. Communism and capitalism differ in their approach as regards both political and economic ideology or philosophy. Communism simply means a political philosophy or ideology in which both the resources and the means of production are collectively owned by the people. In communism, classes and the state don't exist. Everybody is treated equally with the existing resources.

There are so many differences between communism and capitalism, which must be clearly understood.
Capitalism, on the other hand, means a socio-economic system where the resources and the means of production belong to private individuals or organizations. In capitalism, the economy is being driven by private people, and the profit belongs to them alone. In communism, the returns or profits are shared collectively by people. In communism, the economy is being run and driven by the government. In communism, the word 'private' property does not exist as all the resources are equally owned by people.

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O. Bickis

O. Bickis

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O. Bickis
O. Bickis, Corporate employee, MBA, Stockton

Answered Jun 13, 2019

Communism and capitalism are terms that are usually used when discussing the economy. They have different meanings. Communism means that certain things used to be only available privately that are now being opened to the general public so that everyone can enjoy and experience the results.

Communism and capitalism are terms that are usually used when discussing the economy. They have
Communism is an idea that people have had after they felt that capitalism is making a lot of people suffer. Capitalism is the type of economy wherein private organizations are controlling a lot of the sectors. Not everyone will have access to the items that they need in this type of economy.

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