capitalism communism and socialism are

three different political and economic

models let us try to understand them one

by one capitalism capitalism revolves

around private property in a capitalist

society individuals own the resources

that are required to produce goods and

provide services individuals can hire

workers and can keep the profit for

themselves it is the individuals who

decide how much supply needs to be

produced based on demand there is a

competition between many individuals who

generate the same product ideally this

keeps the selling price in check

this kind of system is called an open

market the government does not regulate

anything in such a society socialism

philosopher Karl Marx believed that the

capitalist model created an unfair

society where the rich would get richer

and the poor would get poorer

so in opposition of the capitalist model

he proposed a socialist model in a

socialist society it is the government

who owns the resources and operates

production individuals work for the

government

and earn a wage everyone is given what

they require to live a normal life by

the government idly this should create

an equal and just society which has

eliminated social class completely

comunism Marx believed that a successful

socialist model would naturally lead to

communism being introduced the workers

would take ownership of what the

government previously owned and shared

it equally among themselves all the

resources would belong to the community

and there would be no need for a

government a classless and stateless

society would remain in its idealist

form comunism has never been able to

successfully materialize in the world

today

no country follows a single ideology

countries and governments adopt certain

features of certain models which best

suit their needs even the most

capitalist countries which allow for a

relatively free market have government's

who tax the citizens and use that money

for socialist endeavors like public

funded schools or transport pure

capitalism or pure socialism did not

exist we have different combinations of

the two models do like comment and

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