Capitalism vs. Socialism

Property and the means of production (factories) should be owned by businesses and individuals.

• Capitalism

• Socialism

When individuals follow their own self interest, progress will result.

• Capitalism

• Socialism

The government must act to protect workers since employers often take advantage of them

• Capitalism

• Socialism

The community or the state should own property and the means of production.

• Capitalism

• Socialism

The government should not interfere in the economy because the rules of the marketplace (the world of business) benefit everyone.

• Capitalism

• Socialism

Goods should be distributed according to each person’s needs.

• Capitalism

• Socialism

Competition among businesses is good.

• Capitalism

• Socialism

Progress results when producers of goods cooperate for the benefit of all.

• Capitalism

• Socialism

The government should control factories, mines, railroads, and other key industries to end poverty and promote equality

• Capitalism

• Socialism