Capitalism vs. Communism
John Huddleston
p.6
Capitalism and Communism are both economic systems used in different countries. The “father” of communism was Karl Marx he wrote the “Communist Manifesto” which summarized his reasons for a communist society. Adam Smith the “father” of Capitalism also wrote a book “The Wealth of Nations” in wich he gave his reasons for a free market economy. Both forms of the system were developed around the same time in the late 17th century after The French Revolution. Other than being both economic systems they have some similarities but there are more differences between the two.


The similarities between capitalism and communism is that every citizen gets paid based on the level of the work they do. Also both forms use labor, land, capital resources. Capitalism or free market economy gives people the right to have private ownership and make as much money as they can.Capitalism accelerated the industrialization throughout the world,and gave entrepenuerers the oppturnity to make their own business’. Communism is an economic system where everything is shared equally amongst people, making everyone work together equally as one.


Capitalism is defined as an economic system in which means of production and distribution are privately or corporately owned. The overall idea of capitalism is to have a free market economy where anyone has the oppturnity to own their own business and make as much money as possible without the government interfering or controlling the distribution of money.


Communism is a system of government in wich everything is equally shared amongst people. In this system the distribution of money and goods are controlled by the state. Karl Marx, the father of communism, believed that this will make everyone work together by making them and everything equal. He also thought that this would eventually become a state controlled economic system reducing the need for government until there was no need for it at all. Marx also argued that by makin everyone equal they can do what they want and not feel the need for criminal activity.


Even though both sytems have many differences they have been proven to work for many countries. Overall it’s just a matter if you wanna make your own way and own money, or work and share everything equally amongst everyone else.