Dec 16 2010

What is the difference between Socialism and Communism?

Category: Society & Culture

Answer:

Socialism is an economic system that should not be confused with Communism, which is a mix of economics and politics. In a Socialist economy, the sources of production and distribution are controlled by a centralized government. In a Communist society there is no centralized governing body but rather a shared ownership of property for the overall benefit of everyone. So it can be said that socialism has the ability to develop from capitalism. Communism is a more development form of socialism.

Socialism – From each according to his ability, to each according to his deeds.
Communism
– From each according to his ability, to each according to his needs.


Tags: , , ,


 

 

Challenge this Answer and/or Discuss