Comparisons Between Capitalism and Socialism:

    Socialism embraces the idea of government controlling society as well as the individual, and has the mentality that the State knows better than its citizen. On the other hand, Capitalism embraces less governmental intervention and promotes a free market economic system, where the citizen has the freedom to buy, sell and trade to provide for his family.

    In a capitalistic society, man is treated as a responsible, competent being and is encouraged to be self-governed, so government intervention is not necessary. The government is merely there to protect society and it’s operations, whereas, socialism’s wish is to operate society and ultimately control everything in it.

    As we are seeing in our economy today, the enterprising incentive is dying away, because socialism is seizing the citizen’s profits. Capitalism encourages citizens to keep the profits of being enterprising, which further builds up the economy. However, capitalism’s purpose is not in building up the economy, but in promoting liberty. The economical boost experienced in a free market system, is merely a byproduct of man’s freedom of entrepreneurship.
  
    Capitalistic principles produce wealth because of the free market system, where since governmental control is limited and the individual can keep their profits, the economy grows because of their spending and investing. Socialism is the opposite of this. It promotes taxing the rich and big businesses. This in turn takes away from the citizen the extra money they would use to spend and invest into the economy. The economy struggles when this happens, because, instead of money being invested into the economy, it is withdrawn.

    Capitalism promotes charity and establishes human worth. The individual’s wealth is attained by meeting the needs of others. This helps them to be more aware of others needs around them. It also instills in man responsibleness and stewardship by man taking care of what is his own - instead of the government doing it for him.

    Socialism promotes self-centeredness, and does not press any importance on helping others by meeting their market needs. You can “work the system” to your own advantage.

    Capitalism reflects society’s values; it does not generate them. If capitalism produces bad things, it is because society’s values are. In a socialistic system the state decides society’s values.

    In a socialistic society, social justice is denied – because the government unjustly takes away the profits from those who work and gives it to those who don’t by unjust means. Ultimately, liberty is replaced with totalitarianism in a socialistic society. The definition of which means, “requiring complete subservience to the state.” (Emphasis added)

    In contrast to socialism, a capitalistic society allows for social justice to be attained. In capitalism, there is not economic equality. And yes, it’s fair. There is no fixed amount of money in society for the "big businesses to hoard." Socialistic mindsets believe that justice is only attained when there is equality. In reality, as well as in capitalistic thinking, justice is won when freedom reigns – when the people have the liberty to decide how and when to spend their hard earned money.