The debate between communism vs capitalism is a battle between two extreme socioeconomic theories. These theories represent two fundamentally opposite ways of thinking. One is extremely individualistic, being capitalism, while the other, communism, believes in putting the society before self. They are both economic systems that attempt to solve the social and economic problems faced by many people. They are the two most compared and contrasted of all economic systems, and are compared on many different levels. These main comparisons include; individual freedom, ownership of means of production, and class distinction. The source reflects that capitalism and communisms main difference is individual freedom. The perspective held within the source should be embraced.
Communism and capitalism are two extreme points of view, which have contrasting views about individual freedom. Communism asks one to put the society before the individual, while capitalism puts individual freedom, before society. So, the polarity between two ideologies is 'Individualism vs Social welfare'. Capitalism gives more importance to individual aspirations and appeals to the inherent selfish nature, which is inherent in all human beings. Communism appeals to an individual’s more virtuous side, wherein they think about others before themselves. It is a noble thought, which goes against the inherent selfish nature of people, though it is appealing to their generous natures. Both again are two extreme points of view, which have their advantages and disadvantages. Some of the greatest advances in human history have happened due to individual creativity and enterprise, which were self-serving, though they ultimately benefited the society. Communism can kill that individual creative streak, by making a person do what he is told. In short, it has the danger of killing creativity and original thinking.
Another primary point of difference between capitalism and communism is regarding the ownership of 'means of production' or resources in general. Communism shuns private ownership of land or any vital resources. Instead, all the 'means of production' like land and other resources should be owned by the state. All land and resources which enable the production of goods and services will be owned by one and all. All decisions about production will be made by the whole community by democratic means. On the other hand, capitalism believes in private ownership of land and means of production. Every man will have to earn his worth. The major share of the profits earned from a business will go to the person who owns