How do Capitalism and Communism differ in the manor of how they are ruled?
Capitalism is an economic system in which the people control the means of production. Also, the people work for wages instead of product. "Communism is a political and economic system in which citizens share property and wealth based on need. Private ownership does not occur."
What are the historical roots of Capitalism and Communism?
.The ideas of Capitalism dates back to the Romans using Mercantilism. Where goods were bought for a price and moved to another place and sold at a higher price to realize a profit. The main ideas of Communism come from The Communist Manifesto by Karl Marx and Friedrich Engels. The idea known as Marxism has been the main influence of modern Communism.
What are examples of Capitalism and Communism in the world? Were they successful?
One example of Capitalism, is in the United States. Although the United States is known for practicing a capitalist economy, it is not a true Capitalist economy. Instead it is a Mixed Economy. Perhaps one of the most popular example of Communism is in the Soviet Union. The economy in the Soviet Union was based on complete state ownership, after the Cold War, the Soviet economy fell and the Communist regime fell with it
The topic for my compare/contrast paper is on the difference between Capitalism and Communism, I plan to compare both economic systems in the ways that I have highlighted above.
http://www.wsu.edu/~dee/GLOSSARY/CAPITAL.HTM
http://www.enotes.com/political-encyclopedia/communism
http://www.spiritus-temporis.com/soviet-union/economy.html
http://countrystudies.us/united-states/economy-3.htm
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