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How was socialism different from capitalism?

Updated: 8/21/2019
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Q: How was socialism different from capitalism?
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Is socialism working better than capitalism?

no, socialism isn't better than capitalism because capitalism has a free market and people get rich easily.


What countries have all communism capitalism and socialism?

Which countries that are under communism , socialism and capitalism


What types of economic systems exist throughout the world today?

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How can capitalism and socialism be compared?

Capitalism and Socialism can not be compared, because they are two complete different ideas that do nothing but conflict with each other.


What does Bosnia practice communism socialism or capitalism?

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What political ideology of a gradual transition from a capitalism to socialism


Three main economic systems of the world today?

Just different versions of capitalism, with varying degrees of state interference.


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Capitalism allows for more freedom for businesses than socialism does


What would be considered a compromise between capitalism and socialism?

There can be no such compromise, as Socialism and capitalism are completely distinct systems. Socialism means a classless stateless society based on production for use, while capitalism has a class division and production for profit.


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Does capitalism engage in centralized planning whereas socialism does not?

There are many types of capitalism and socialism. Types of capitalism which engage in central planning include state-capitalism, or corporate capitalism. Types of socialism which engage in central planning include communism, and state socialism. Types of capitalism which do not engage in central planning include laissez faire capitalism, american libertarianism, or anarcho-capitalism. Types of socialism which do not engage in central planning include mutualism, and libertarian socialism. Of course, all institutions involve some degree of central planning, ie a corporation, a collectively run factory, or a family.