Communism
A system of social organization in which all economic and social activity is controlled by a totalitarian state dominated by a single and self-perpetuating political party. |
Capitalism:
An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. |
Communism History
Karl Marx is a German philosopher-historian that is known as the 'Father of Communism'. He wrote the book "Communist Manifesto" a very popular book in 1847, it was read by millions of people around the world. His followers are known as "Marxists". Karl Marx and his friend Frederick Engels analyzed the various economies of the world, the workings of power, finance, and the industrial sectors of the economies. They researched the development of various economies and the reasons for it, and developed the concept of communism based on their findings. Communism refers to the banishment of all the differences from the society, and people sharing all the things equally with equal status. The ideal of communism was that there shouldn't be any kind of exploitation or social inequality, like women being dominated by men (Patriarchy), racial discrimination (Racism), or Class exploitation (Claissism). Communist society is supposed to provide equal status to everyone with the opportunity to use the resources equitably. Communism also means an extensive outlook for the betterment of society. The symbol of communism is the hammer and the sickle, wherein the hammer represents the urban workers and the sickle represents the farmers or the peasants. Marx analyzed history through a “material lense”, meaning he tried to interpret historical
Capitalism History
It developed into its modern form during the Early Modern period in the countries of North-Western Europe, especially the Netherlands and England. People in Amsterdam and London created the first chartered joint. Stock companies driving up commerce and trade, and the first stock exchanges and banking and insurance institutions were established.
Over the course of the past five hundred years, capital has been accumulated by a variety of different methods, in a variety of scales, and associated with a great deal of variation in the concentration of economic power and wealth. Much of the history of the past five hundred years is concerned with the development of capitalism in its various forms.
Since 2000 the field of "History of Capitalism" has appeared, with courses in history departments. Topics such as insurance, banking and regulation, the political dimension, and the impact on the middle classes, the poor and women and minorities.
Over the course of the past five hundred years, capital has been accumulated by a variety of different methods, in a variety of scales, and associated with a great deal of variation in the concentration of economic power and wealth. Much of the history of the past five hundred years is concerned with the development of capitalism in its various forms.
Since 2000 the field of "History of Capitalism" has appeared, with courses in history departments. Topics such as insurance, banking and regulation, the political dimension, and the impact on the middle classes, the poor and women and minorities.
DifferencesCapitalism:
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SimilaritiesRequires strong government
Mixed economy Stays control over population |