Originally Posted by DeadHead

For people who have trouble understanding the difference between the two.

Capitalism
:an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market

Capitalism - Definition and More from the Free Merriam-Webster Dictionary


Socialism
: any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods : a system of society or group living in which there is no private property
: a system or condition of society in which the means of production are owned and controlled by the state

Socialism - Definition and More from the Free Merriam-Webster Dictionary