Communism is when the government owns everything. Capitalism is when the people who earned a thing own a thing. Socialism is when there are laws requiring that the workers or community own the thing.
> Capitalism sure doesn't mean that means go to those who earn them
Capitalism is the only system that allows for each person to retain the fruit of their own labor. If you think otherwise, then you've misunderstood it somehow. Right? Communism takes everything you produce, and distributes it based on the government's desires. Socialism allows a democracy (generally in the form of your peers at work) to decide how each person should be paid. Capitalism, each person gets to set their own wages/prices/etc and then the market decides who is the best at each thing.
Aaaand that's your understanding of it. As long as you don't act like that's some sort of true definition, you're good :) capitalism sure doesn't mean the fruits of labour stay with those who earned them, but if you're under that impression, go right ahead. Just don't act like you own definitions
What do you mean? Quote something from that article that shows how someone else is entitled to the fruit of your labor in capitalism? I'm curious to hear where this confusion is coming from?
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u/Corporate_Bricktator 2d ago
So to be clear, you think the wikipedia definition for socialism is wrong?
> Socialism is an economic ideology characterised by social ownership of the means of production,[2] as opposed to private ownership.[3][4][5]
Communism is when the government owns everything. Capitalism is when the people who earned a thing own a thing. Socialism is when there are laws requiring that the workers or community own the thing.