How is Capitalism and Communism alike?

Communism and capitalism?

• In capitalism and communism who controls business (production and distribution)? What is a point in favour of communism? in capitalism? What is a point against communism? against capitalism?

• Answer:

  Capitalism generally refers to an economic system in which the means of production are all or mostly privately[1][2] owned and operated for profit, and in which investments, distribution, income, production and pricing of goods and services are determined through the operation of a market economy. It is usually considered to involve the right of individuals and groups of individuals acting as "legal persons" or corporations to trade capital goods, labor, land and money (see finance and credit). Because most economies today are mixed economies, "capitalism" does not precisely describe most contemporary economies,[3][4] due to these economies containing both private-owned and state-owned enterprises, or that combines elements of capitalism and socialism, or a mix of market economy and planned economy characteristics. Milton Friedman has argued that the "economic freedom" of competitive capitalism is a requisite of political freedom. Friedman argued that centralized control of economic activity is always accompanied by political repression. In his view, transactions in a market economy are voluntary, and the wide diversity that voluntary activity permits is a fundamental threat to repressive political leaders and greatly diminish power to coerce. Friedman's view was also shared by Friedrich Hayek and John Maynard Keynes, both of whom believed that capitalism is vital for freedom to survive and thrive. Capitalism has met with strong opposition throughout its history. Most of the criticism came from the left, but some from the right, and some from religious elements. Many 19th century conservatives were among the most strident critics of capitalism, seeing market exchange and commodity production as threats to cultural and religious traditions. Some critics of capitalism consider economic regulation necessary in order to reduce corruption, negligence, and a slew of other problems they attribute to free markets. Communism is an ideology that seeks to establish a classless, stateless social organization based on common ownership of the means of production. It is usually considered a branch of the broader socialist movement that draws on the various political and intellectual movements that trace their origins back to the work of Karl Marx. Like other socialists, Marx and Engels sought an end to capitalism and the systems which they perceived to be responsible for the exploitation of workers. But whereas earlier socialists often favored longer-term social reform, Marx and Engels believed that popular revolution was all but inevitable, and the only path to socialism. Most of this criticism is focused on the policies adopted by one-party states ruled by Communist parties (known as "Communist states"). Some writers, such as Courtois, argue that the actions of Communist states were the inevitable (though sometimes unintentional) result of Marxist principles;[25] thus, these authors present the events occurring in those countries, particularly under Stalin and Mao, as an argument against Marxism itself. Some critics were former Marxists, such as Wittfogel, who applied Marx's concept of "Oriental despotism" to Communist states such as the Soviet Union, and Silone, Wright, Koestler (among other writers) who contributed essays to the book The God that Failed (the title refers not to the Christian God but to Marxism).