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What is the difference between free enterprise and socialism as each relates to private property?
Wiki User
∙ 15y ago
Best answer I found taken from the link: http://griper-of-usa.blogspot.com/2007/12/socialism-vs-free-enterprise.html "Free Enterprise is an economic system of the people, by the people and for the people. It is a system where people make the decisions for their lives. It is a system where people must accept responsibility for their own decisions. And in doing so a person reaps the rewards of their own good decisions but also they must accept the consequences of any bad decisions.
Socialism is an economic system of the government, by the government and for the government. It is a system imposed upon a society by government dictates. It is a system with the intent and purpose of spreading responsibility upon society as a whole with the few making decisions for the whole. It is a system where the few get credit for good decisions but the whole must accept the consequences of the bad decisions.
The difference between free enterprise and socialism are many but there is one significant difference. Free enterprise is an economic system that evolves naturally in a society. It is an 'you have something I want and I have something you want, let's trade' system. And each party equally profits from that trade.
Socialism is a government imposed form of economic system. It is a government takes and government gives as it sees ability and need. Affordability is the foundation of this form of economic system. Since affordability is the determinant it imposes a forced inequality upon a society.
Free enterprise feeds the competitive spirit of man. In order to survive it only needs to recognize the opportunities of life and an attitude of 'can do'. It emphasizes the individual's role in society. And the appitite of the spirit is never sated
Socialism feeds upon the lack of security that man feels. In order to be imposed it must create a perception of the lack of opportunities and a 'can't do' attitude. Socialism relies on persuading certain groups that they are the exploited of another group. Socialism advocates victimization.
Wiki User
∙ 15y ago
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