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State Ownership vs. Private Ownership: A Comparison of Communism and Capitalism

Explore the differences between communism and capitalism where state ownership under communism aims at benefiting all people while in capitalism, private ownership thrives on profit and incentives for hard work. Discover the pros and cons of each system.

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State Ownership vs. Private Ownership: A Comparison of Communism and Capitalism

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  1. No Benefit Business are owned by state Profit is a form of oppression Run by Government for benefit of all people Problem: No incentive to work harder Farms are owned by state Communism Run by Government for benefit of all people No Benefit Means of production (human labor to produce) Profit is a form of oppression Problem: No incentive to work harder

  2. Problem: Think that previous public state services will become private Farms owned by people Supply to Demand Things are generated for profit Businesses owned by people Not Taken by Force Capitalism Good Profit Incentive to work Things are generated for profit Good Profit Incentive to work

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