a year ago

Capitalism vs Socialism: Which one is better and why?

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The major differences between capitalism and socialism revolve around the role of the government and equality of economics. Capitalism affords economic freedom, consumer choice, and economic growth. Socialism , which is an economy controlled by the state and planned by a central planning authority, provides for a greater social welfare and decreases business fluctuations. If i have to choose one, i go with the Capitalism because you're allowed to do what you want with your own body and your own stuff.
Capitalism vs. socialism. Two different political, economic and social systems in use by countries around the world. The United States, for instance, is usually considered a prime example of a capitalist country. Sweden is often considered a strong example of a socialist society. Sweden is not socialist, however, in the true sense of the word. In practice, most countries have mixed economies with economic elements of both capitalism and socialism. I choose freedom so i choose capitalism.
Capitalism wins

1) Capitalism produces faster growth than socialism.  

2) Capitalism works in concert with human nature while socialism works against it.  

3) Capitalism rewards merit. Socialism rewards mediocrity.  

4) Capitalism is freedom while socialism is slavery.  

5) The marketplace does a much better job of allocating resources than socialism's central planning.
The major differences between capitalism and socialism revolve around the role of the government and equality of economics. Capitalism affords economic freedom, consumer choice, and economic growth. Socialism, which is an economy controlled by the state and planned by a central planning authority, provides for a greater social welfare and decreases business fluctuations.
I feel that Capitalism is better as socialism destroys one's mentality of hardwork to an extent, since people don't feel the need to risk something to gain something bigger
True capitalism is premised upon the libertarian concept of self-ownership. We all have the right to our life, liberty and the corresponding result of the exercise of life and liberty, which is property.

True capitalism encourages innovation through competion as well as the reward for one’s labour. A factory owner risks their “investment” and thus reaps a greater reward if successful.

Corporate monopoly capitalism is a perversion of true capitalism. The corporate monopolist suppresses innovative competition via the means of market dominance. This is why “mixed economies” have developed over time, a regulated economy which still favour capitalism.

Socialism is immoral at its very foundation because it neither respects life, liberty or property. The fundamental principle behind socialism is the naive ideal of a “utopisn order” brough about by central planners. The central planner thus deems it necessary to infringe upon the life, liberty and property of designated “groups” in order bring “equality.” Equality of outcome is naive because it is impossible to define such a thing in a world wherin “value” is subjective. Even if “value” were not subjective it would still be wrong to “force virtue” via the means of a tyranny.

History ought teach every individual that centralised government power is extremely dangerous. Only naive fools promote centralised power in order to violate life, liberty and property to the end of pursuing some ideakistic utopian dream.

History is full of naive fools ss much as history is full of blood.

Original question: How does Socialism differ from Capitalism and which one is better?
Socialism as Marx envisioned it is a global movement revolving around worker ownership of the MoP, abolition of class, wage, borders, private property and of course capitalism. Socialism = Communism
Capitalism revolves around private (sometimes state) ownership of the means of production, accumulation of capital and wage labour. Workers are forced to sell their labour, and live off a barely livable wage. Or face worse poverty, and in some cases death.
I am an anarchist, so obviously I am a communist. And clearly biased to favor a communist state of things. To achieve Communism, Capitalism must be abolished. Since I support freedom I naturally cannot support a system thats only goal is to make a profit by any means necessary. To the Capitalist, the workers, environment and common decency etc, do not matter at all. The only thing that matters is profit.
This is a good quote from the essay 'The Capitalist System' which I think is a good ending point.
What is property, what is capital in their present form? For the capitalist and the property owner they mean the power and the right, guaranteed by the State, to live without working. And since neither property nor capital produces anything when not fertilized by labor - that means the power and the right to live by exploiting the work of someone else, the right to exploit the work of those who possess neither property nor capital and who thus are forced to sell their productive power to the lucky owners of both.

What is Property? An Inquiry into the Principle of Right and of Government
The Capitalist System
The Conquest of Bread

It's like asking about which is better, hot or cold? When no one really wants, or benefits, from the maximum of either of these.

Brute capitalism is a problem, there are some things money shouldn't buy (like slaves and killings) and some things we should all chip in for (like roads and schools).

But, pure Socialism means no one has an incentive to work or build better goods or come up with better services.

Too many people are looking at one or the other as the problem, when the problem quite frequently is finding a proper balance.

But, if you keep the poor and middle class with no frame of reference for that balance, you just might be able to trick them into arguing which is better while you institute a policy of capitalism for the poor and socialism for the the rich.
Socialism is better and it encourage equity or perhaps, equal sharing of wealth.

In capitalism the society and economy is run for profits motives n and the rich have larger control of the economy, but in socialism, everyone works for their own good and for the good of everyone else. The government decides how wealth is distributed among the people. The rich do not control everything. The gap between the rich and poor is minimal
I would choose capitalism as it allows freedom and power to the people to run their business to the fullest. Socialism only hinders the process as it is usually run by the governing body that sometimes tend to only be beneficial to the members of the government

Here's your answer in the form of a question...

What is better,

Voluntary interaction (capitalism) or coercion/extortion (socialism)?