By definition communism is an economic system that benefits the vast majority. Webster’s New Universal Unabridged Dictionary defines communism as an economic theory or system of the ownership of all means of production (and distribution) by the community or society, with all members of the community or society sharing in the work and the products. Capitalism, on the other hand, is an economic system that benefits the few at the expense of the many. Webster’s New Universal Unabridged Dictionary defines capitalism as the economic system in which all or most of the means of production and distribution, as land, factories, railroads, etc. are privately owned and operated for profit, originally under fully competitive conditions: it has been generally characterized by a tendency toward concentration of wealth, and in its later phase, by the growth of great corporations, increased governmental control, etc.
Posted on: Sat, 01 Nov 2014 14:08:43 +0000
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