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Capitalism-Socialism-Communism


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People who live in different countries are subject to their level of development, mentality, national characteristics ...

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I'm wondering what the dear users of this forum mean by the words:

1. Capitalism

2. Socialism

3. Communism

­čśÄ

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  • 2 weeks later...

Even though definitions have nothing to do with country of origin here you go.

 Capitalism: the ability to create capital through privately owned industry based on individual intellectual property.

Socialism: means of production controled by government, but still compatible with democracy and personal liberty. I.e property rights

Communism: complete control of the economy including all property, and requires revolutionary acts.

Now for definitions of more complex political or economic systems, country of origin can be important. I.e. mixed economy or social democracy, how would you define these terms comrade?

Edited by SkyHigh
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