Compare and Contrast Capitalism and Socialism

Compare and contrast Capitalism and Socialism

Introduction

Capitalism represents where the means of production have owned by the individual by using his money and other sources of capital, under the system the economy has run through individuals that focus on operating the private organization. Companies enjoy in this system uplifting of profit but the management complexity is always being there (Stradling, 1989). On the other hand the economy of socialism means of production has been under the hand of state or public. In this system every individual have to put his effort to contribute or generate wealth for ...