Socialism vs capitalism

Both socialism and communism are essentially economic philosophies advocating public rather than private ownership, especially of the means of production, distribution and exchange of goods (i.e., making money) in a society.

Both aim to fix the problems they see as created by a free-market capitalist system, including the exploitation of workers and a widening gulf between rich and poor.

But while socialism and communism share some basic similarities, there are also important differences between them.

Karl Marx and the Origins of Communism

Socialism emerged in response to the extreme economic and social changes caused by the Industrial Revolution, and particularly the struggles of workers.

Many workers grew increasingly poor even as factory owners and other industrialists accrued massive wealth.

In the first half of the 19th century, early socialist thinkers like Henri de Saint-Simon, Robert Owen and Charles Fourier presented their own models for reorganizing society along the lines of cooperation and community, ra

how is democratic socialism different from communism

how does socialism differ from communism