Compare And Contrast The Three Primary Systems Of Government

There are three primary systems of government in the world today are Capitalism, Socialism, and Communism. While Capitalism concentrates on the principle of individual rights, Socialism has a base of the principle of equality, and lastly, the basis of Communism is the law of community rights. There are many differences in these three ideologies, and they all have arguments for and against each one. Capitalism, or free market economy, is a democratic economic system in which private individuals control and own trade and industry of the economy, to make a profit. There is not a considerable amount of government interference, and the market is free and competitive. The production of goods and services is mostly privately owned and operated, and profits belong to the private individual only. At the core of Capitalism, is the principle of Individual Rights and promotes individual freedom. However,

The system of Socialism is public rather than private ownership or control of the property and natural resources. The ideology of Socialism is that individuals do not live or work in isolation, but live in cooperation with one another. Everything that people produce is a social product, and each person who contributes to the production of a product has an entitlement to a share of it. Therefore, productive members of society, should own or at least control property for the benefit of all its members. Although the intention of Socialism is to advocate equality and fairness in society, it often fails. The reason for that is no competition exists between firms, and determination of all the prices are by the government. The people do not have control of their lives, the government is, and the government chooses the citizen's careers. The citizens do not have the opportunity to earn extra money or have privately own land or