The opposite of communism is capitalism according to which business organizations, trade, and industry are owned by the private sector. As long as there is capitalism there will continue to be racism, sexism and all other sorts of inequality. The following is a collection of the most used terms in this article on Capitalism and Communism. All scores are updated in real-time. With the price of food crops dropping low, the people now had more disposable income which they could now spend on other consumer goods. Under capitalism, the government does not have much involvement. • Capitalism is a political system where government involvement is minimal and individual efforts of the people are admired. In a capitalist society the major corporations are only interested in profit. In capitalism, the rich and the poor exist. Communism has been villanized by the US and Capitalists and there has never been a true example of a Communist state. Both of these economic systems mainly focus on how to allocate goods to the population. Capitalism is based on the Principle of Individual Rights, whereas Communism is based on the Principle of Community Rights. So far so good. Profits not allowed. After making a profit, the merchants can then pay back the person who lent them the money. I am a front-end developer by profession, but I enjoy writing articles about anything mysterious, interesting, and fascinating. We also know that the Soviet Union was a Communist country and during the Cold … There are no rich, but there are no poor, just the proletariat and the government. This was precisely the cause of the downfall of Communism. Difference Between Pressure Group and Political Party, Difference Between Monopoly and Monopolistic Competition, Difference Between Micro and Macro Economics, Difference Between Developed Countries and Developing Countries, Difference Between Management and Administration, Difference Between Qualitative and Quantitative Research, Difference Between Free Trade and Fair Trade, Difference Between Partner and Designated Partner, Difference Between Research Proposal and Research Report, Difference Between Table of Contents and Index, Difference Between Project Management and General Management, Difference Between Social Science and Humanities. Those with drive and ability who are not frightened to take risks will invariably create corporations whose product(s) or services will benefit all mankind. Healthcare, Education, transportation, etc are all usually run by the government to give access to all people without any constraint. Look at animal hierarchy. Basically, capitalism takes the basically bad greed, and uses it with minimum harm to others. Communism Capitalism. Absence of competition with State-owned market, Profit and wages depends on the person's ability and willingness to work. There is no room for individual rewards. Through conflict only can they get a sense of themselves.

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