Socialism Vs Communism. Socialism in simple terms. Anonymous comments 5 september 5 2010 5 47pm. On the other hand socialism is an economic theory wherein the means of production distribution and exchange are owned and controlled by the society as a whole.
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On the other hand socialism is an economic theory wherein the means of production distribution and exchange are owned and controlled by the society as a whole. The key difference between the two theories is that under communism there is no such thing as private property while under socialism. Communism on the other hand is a branch of socialism. The communist manifesto an 1848.
No political system works the way it should because in every system there are always going to be those who have the power and change the system to make themselves more powerful.
Stalin then ruled as an absolute dictator of the soviet union. The key difference between the two theories is that under communism there is no such thing as private property while under socialism. Under socialism all citizens share equally in economic resources as allocated by a democratically elected government. Franklin roosevelt told the american youth congress february 10 1940. Both socialism and communism are essentially economic philosophies advocating public rather than private ownership especially of the means of production distribution and exchange of goods i e.
