What is the difference between communists and capitalists

Communism and Capitalism are both economic systems, with followers of Communism known as communists and followers of Capitalism known as capitalists.

Put simply, they are polar opposites. Communists want to nationalise all industry, with the economy operating under a system of common ownership which they believe leads to a classless society. In contrast, capitalists believe that it is the private ownership of industry that is most beneficial to society, as this encourages individuals to work hard so they can gain the maximum reward. In so doing, they would see the class system not as an evil - as communists do - but as an incentive for individuals to better themselves.

Answered by James O. History tutor

3081 Views

See similar History A Level tutors

Related History A Level answers

All answers ▸

How correct is the leadership myth in Nazi Germany?


How accurate is it to say that the SPD lost the 1949 election due to the leadership of Kurt Schumacher?


To what extent were religious reasons the main cause of Tudor Rebellion in England in the context of years 1485-1603?


How do you evaluate a historian's argument?


We're here to help

contact us iconContact usWhatsapp logoMessage us on Whatsapptelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

© MyTutorWeb Ltd 2013–2024

Terms & Conditions|Privacy Policy