• Tucker Teague@mastodon.social
    link
    fedilink
    arrow-up
    1
    ·
    1 year ago

    @cyclohexane @quicksand
    Capitalism is an economic system under which private individuals own and control businesses, property, and capital—the “means of production.”

    Socialism describes a variety of economic systems under which the means of production (capital) are owned equally by everyone in society. It doesn’t abolish capital, it abolishes the private ownership of capital, thus abolishing Capitalism.