If someone were to ask me whether I want to live in a highly capitalist society or a communist society, I wouldn’t want to live in both societies.
Why you may ask?
Well, because in capitalist societies, I feel like everyone is greedy for money and wealth enjoys prestige in the society, which results in erosion of human values or in other words, it creates economic inequalities between the rich and the poor. Due to this economic inequality, I feel like it ALWAYS leads to conflicts in the form of protests, strikes, and lockouts.
In addition, the capitalist system creates many unemployment issues. Although capitalism sounds good on paper, living in one is a completely different experience. However, communism is a whole different thing alone, just like capitalism, even if it sounds good on paper, it really isn’t.
For example, let’s say I drew a painting. Guess what? I don’t get any credit for drawing it, everyone owns the painting. Personally, I would feel devastated. What is the point of working hard in a society where I don’t even get credit for something I made?
Therefore, today, I want to talk about the differences between the polar opposite systems based on these three main points:
Ownership of Means of Production and Resources
Society and Anatomy of Power
Firstly, the primary difference between the two systems is the ownership of means of production. In communism, it bans all private/individual ownership regarding the land and its vital resources. Instead, all of the land and all of the industries are owned by the government of a sovereign state.
According to Opinion Front, it explained that while communism can kill the idea of individual companies, which has led to most of the technological innovations we see today, capitalism has the seeds of exploitation, where too much wealth and therefore power, is concentrated in the hands of a few people. These few people own most of the important land. They own and control the corporations and industries that run the majority of a country’s economy.
It might not seem like it, however, these few corporations have more power than the president. For example, in the United States, according to Statistica, Apple alone makes 0.5 percent of the entire US GDP, meaning that with a couple more of these mega-corporations, I don’t know why they would want to do that but, if they want, they have the power to start a major economic crisis.
In a communist regime, it isn’t much different since the absolute power is placed in the hands of a few individuals, and because of this, it results in oppression and economic misery for the majority of the population.
To sum up, these two types of systems are polar opposite ideas that take their ideas to the extremest point possible.
Secondly, these two systems which have extreme points of view contain contrasting views about individual freedom. Communism demands to put society before the individual, whereas, capitalism demands individual freedom before society.