CAPITALISM AND COMMUNISM

ABSTRACT;

Capitalism and communism are the words that have defined the growth, evolution and success of countries in this modern era. I, and millions of people on the earth are favoring one of the ideology. So, what is meant by these words and what is there significance in effecting our lives.. Capitalism an economic system in which trade, transport, industries, and the means of production are largely or entirely privately owned and account, operate for profit. Central characteristics of capitalism include private property, capital accumulation, wage , labor and, in many models, competitive markets, whereas Communism from Latin – common, universal, is a socioeconomic system structured upon the common ownership of the means of production and characterized by the absence of social classes, money, and the state; as well as a social, political and economic ideology and movement that aims to establish this social, political and economic equality. Now, one of these ideologies is the base of most countries are established and growing successfully, as, India is a democratic country where Capitalism is practiced , where as China is Communist country where strict Communism is practiced. One hears often: "Capitalism is not better than Communism. The Church has condemned both with the same vigor. So the capitalist system deserves no more consideration than the communist system. However in another encyclical letter Pope Pius XI wrote: "Capitalism itself is not to be condemned. And surely it is not vicious of its very nature, but it has been vitiated." One will see how it happened in this article. Communism is intrinsically wrong, not only because it divides man from God, but also because of the little importance it attaches to the individual, even in the temporal area. Communism degrades the human person. It does not take into consideration the nature of man, created by God. It tramples on the individual’s freedom of choice. For Communism, man is nothing but a tool that can be used for the goals of the Party, a tool that must abide by those goals or be crushed ruthlessly.