Capitalism :
Capitalism Allocation of scarce resources to satisfy unlimited wants
Communism :
Communism Pure economic theory
Violent class struggle between working class and those that own the means of production (gap between rich and poor).
No private property
Workers own the means of production
Dictatorship of the proletariats
Work according to ability
Pay according to need
No government system as the state will slowly wither away
Formation of classless society Karl Marx
Why Does the Laborer Work? :
Why Does the Laborer Work? Do you work for the good of the community or individual gain? Who does the work?
What Governs the Economy? :
What Governs the Economy? CAPITALISM
Supply and Demand COMMUNISM
Consensus of the people
How is Wealth Distributed :
How is Wealth Distributed CAPITALISM
According to the merit or skill of the individual COMMUNISM
According to need
How do the Individuals Relate to Each Other? :
How do the Individuals Relate to Each Other? CAPITALISM
They compete COMMUNISM
They cooperate
What is the Goal of the Economic System? :
What is the Goal of the Economic System? CAPITALISM
Individual profit and attainment of property COMMUNISM
Classless society free of want and all needs of the people are met
What is the Role of the Government in Either Economic System? :
What is the Role of the Government in Either Economic System? None in either model in its ideal form