A couple of recent threads saw us going off topic and we found ourselves arguing the merits of capitalism vs. pitfalls of socialism. 
Can you guess where I stand on the issue? If not I'll tell you. Freedom is not compatible with socialism, and I'm more inclined to remain free and provide for myself than I am to accept handouts and be enslaved.
What about you?
Can you guess where I stand on the issue? If not I'll tell you. Freedom is not compatible with socialism, and I'm more inclined to remain free and provide for myself than I am to accept handouts and be enslaved.
What about you?
The main difference between capitalism and socialism is the extent of government intervention in the economy.
A capitalist economic system is characterised by private ownership of assets and business. While a socialist economic system is characterised by greater government intervention to re-allocate resources. Socialism takes care of prices , inflation and unemployment while capitalism cares about profits as owned by private players. Therenis more equality too in socialist society as compared to capitalist society.