Communism Vs Capitalism Research Paper

339 Words2 Pages
Capitalist versus Communist economics and production Capitalism and communism have long been considered opposite economic systems as well as rivals to each other. However, capitalism and communism, no matter how drastically opposite they are, have some relationship. Capitalism and communism are on opposite ends of the spectrum in regard to economic systems; nevertheless, similarities still remain in the fundamentals of economics. Both capitalist and communist societies require a means of production; they both need factories, machinery tools, and capital to function and produce the necessities of the country. Likewise, both systems need to fulfill the quota for sustainable consumption and production for the citizens it supports. This means that both capitalistic and communistic systems still must provide the facilities, labor, resources, and capital to produce the…show more content…
First of all, the ownership of the means of production, the factories, for capitalist are privately owned; whereas, communist means of production are communal. In addition, communist do not allow privately property unlike capitalist who promote private ownership. Capitalist promote entrepreneurship, which is the creation of mainly small privately owned business for the owner 's own benefit. Communist, however, would encourage businesses that benefit the state or community as a whole, and a communist regime would discourage its citizens to improve their status in life since every individual is equal. Also, the profits achieved from production and businesses in a communist society are shared equally among its citizens regardless of each individual 's contribution, society above individualism. On the other hand, capitalist privately own their business and receive the profits it can muster from the service or object it produces. This process creates wealth classes and encourages the people in a capitalist society to strive for
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