Capitalism is the economic thought process that focuses on having a free market. The economy would be beneficial for those who naturally rise on their own economic wins if the government did not play an important role in deciding where and how the money should flow.
Socialism on the other hand focuses more groups of people together, while also creating more economic equality through social programs such as welfare, free healthcare programs and education for the elderly and children who struggle in poverty.
Capitalists such as Thomas Malthus wanted to focus on economic growth by raising the standard of living for individual families.While, Socialists such as Karl Marx wanted to focus on preserving power and control of not only the economy, but also the environment, to meet the general and basic needs of humans.
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