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+--- Thread: What is state socialism and what is free market capitalism? (/thread-42708.html)
What is state socialism and what is free market capitalism? - LOL - 11-18-2012 01:07 PM
?
- Love - 11-18-2012 01:15 PM
state socialism: control of means of production by the state, such as state ownership
Free Market capitalism: means of production is controlled by the state in capiltalist manner
- Jerzy - 11-18-2012 01:15 PM
Socialism is a political system where Gross DOmestic Product is distributed among people who made tribute into a National Budget. All factories and land belong to the Government, and its entities are controlled by the central institutions representing interest of the Government. Sales is not advertised and is not determine by any competitions. Anybody who does not accept socialism within the system can face social disadvantages: no promotions, no benefits. Unified ideology by central government excludes any criticism of political system with predominately Communist Party.
Capitalism is a political system based on democratic ideas of equal rights to enter business market as an entrepreneur. Through competitions the best quality products are being promoted for sale. Private property is the most valuable asset, therefore people search for individual success and private interest. Prices and market function on the base of rule: demand and supplies. The expansion of financial investments is determine by mechanism of interest rates and compound prices.
- catharsis - 11-18-2012 01:15 PM
The first answer is dead wrong.
Under free market Capitalism, the means of production, and property, are privately owned and the government plays no role whatever in its use. Furthermore, products are dispersed and sold according to market demand.
Under socialism, the state owns everything and makes all the choices. Private ownership is illegal, both in property and in the means of production. Products are made and dispersed according to bureaucratic whim.