Similarities Between Socialism And Socialism

Today in our modern era there are different types of philosophies/economic systems that is used throughout the different countries such as capitalism, communism and socialism. Socialism is a type of economic and political system/theory. The basic principle of socialism centers on common ownership, this basically means that the entire population of the earth share ownership of the resources available. The main goal of socialism is to achieve equality between the members of the society, it focuses primarily on resources and the economy. The definition of common ownership does not pertain to personal possessions, it simply means that the people have the right to give their opinions and participate in the different decisions pertaining to the shared global resources that are not personally owned. In other words democracy is a very important aspect of socialism because it gives the people the right to express their opinions and vote on the favorable decision at hand regarding global and economical issues. …show more content…
One of the main differences between the two is that socialism is an economic system while communism is a political system. There are a lot of countries that have political parties that follow communist principles such as the United States. One of the similarities of socialism and communism is that they both follow the principle that the economy 's resources and goods should be owned by the public, the main difference however is the way the economy is controlled. In terms of religion, communism rejects all religious and metaphysics while socialism allows the freedom of religion. Politically, communism follows the form of totalitarianism in which the state controls both public and private life as described by Karl