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Word Count: 644
A human characteristic that separates us from the animal world is our organization of social and economic systems Man however retains traits of his evolutionary ancestors in the form of self-preservation and greediness While many political social and economic systems such as socialism attempt to eliminate this modern form of natural selection capitalism and similar economic systems preserve social inequality in many forms while ensures a high living standard for society as a whole The differences between capitalism and socialism can be summed up by their definition Socialism is the general term for the political and economic theory that advocates a system of collective or government ownership and management of the means of production and distribution of the goods Because of the collective nature of socialism is to be contrasted to the doctrine of the sanctity of the private property that characterizes capitalism While capitalism stresses competition and profit socialism calls for cooperation and social service and by that social equality Capitalism is the only politico-economic system based on the doctrine of individual rights This reorganizes that each and every person is the owner of his own life and wealth and has the right to live his life in any manner he or she chooses as long as it does not violate the general accepted state and federal laws even if this means living well beyond the poverty line In a socialist society there is no private property and at least in theory everyone cares for those less fortunate In this form of government everyone has generally the same amount of money which means that the rich persons money goes to the poor so that everyone can be middle class In capitalism the free-market economy deals with economic needs of the people better than socialist government planners The complexity of human behavior and the vastness of society are too great for human planners to address A typical example of this is can be found
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