Capitalism And Communism During The Cold War

The communism and capitalism clash polarized the world during the cold war. Since in the end a capitalist country won we were taught that the theory of communism is wrong and inferior to that of capitalism. The question that should be asked is whether a country’s economy would excel better while controlled through communism, in contrast to the free economy through capitalism. To decide which of these extreme socioeconomic theories meets the needs of its citizens one must look at the differences and similarities between the two. Capitalism and communism do share some similarities, but they also have indisputable differences regarding their origins, ideology, and geography
The perspective of capitalism focuses on private ownership of property,