Question

How can we define capitalism, socialism and communism ?

Answer 1

Answer:

Capitalism

Capitalism as a political system gradually has grown up in Europe since medieval times but it was about the middle of the 19th century when many people realized that, despite all of the technological progress, they could not accept the injustices of the social order associated with it.

Communism

Most people have only a vague understanding of the differences between communism and socialism and, incorrectly, these two terms are often used interchangeably. Marx and Engels in their critique of capitalism pointed out that ruthless competition and heartless pursuit of money are immoral as they create exploitation of the masses by the very few privileged ones.

Socialism

Socialism is a human invention; it represents a human desire to take control of the social progress. It is no coincidence that many socialists call themselves “progressives.” This approach is sometimes called a “scientific socialism“ as it means that for the first time in the history of humankind, people take a systematic critical view of the existing political order and by collective action decide to change it.