The essential difference between capitalism and socialism is that ?

Question

Xaibi Aslam · Accepted Answer

capitalism relies on the market to make economic decisions and socialism uses central planning

Xaibi Aslam · Answer

capitalism exploits the worker and socialism exploits the property owner

Xaibi Aslam · Answer

capitalism grows through rent seeking and socialism grows through government direction

Xaibi Aslam · Answer

capitalism relies on consumer satisfaction to dictate choices and socialism relies on producer satisfaction

Question #49525