Explaian why socialism is both a wealth creator and an unfair distributor of welth. Then explain...

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Psychology

Explaian why socialism is both a wealth creator and an unfairdistributor of welth. Then explain why socialism addresses thisdistribution problem but describe what other problem it creates. Doyou agree that capitalism and democracy are synonymous?Explain.

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Capitalism Capitalism is based on private ownership of the means of production and on individual economic freedom Most of the means of production such as factories and businesses are owned by private individuals and not by the government Private owners make decisions about what and when to produce and how much products should cost Other characteristics of capitalism include the following Free competition The basic rule of capitalism is that people should compete freely without interference from government or any other outside force Capitalism assumes that the most deserving person will usually win In See Answer

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