|I was very confused myself with this issue. |
What kind of society are we living in China? In my old textbook, it depicts how superior our Socialism society is and tells us that we'll eventually lead to a Communism society.
What the hell are they? Well just in case you're not sure the definitions:
Socialism is a concept that individuals should not have ownership of land, capital (money), or industry, but rather the whole community collectively owns and controls property, goods, and production. Ideally, in this system all share equally in work and the fruits of their labor. Ideally this is a Christian version of help the poor and needy, sharing equally, but in the real world this can cause some problems as we will see later.
Communism is a similar concept, in that ownership of land, capital and industry can not be owned or controlled by the individual. However, under Communism the control of these things is not by a local community but by the State Government. Under this system the government has total control of everything produced and control what is made, and who will receive the goods and services produced. Under this system you are not allowed to own your own home, your own car, your own furniture, or even the food you eat. The State decides what you can use and where you will work. You have few if any rights.
Under Capitalism, individuals own and control land, capital, and production of industry. Individuals are free to purchase and own their own homes, cars, furniture, and other goods such as TV, radios, computers, boats, or any thing else you might want. You have total freedom to live where you want and what type of job field you want to pursue. If you have an idea for a new business or invention, you are free to pursue this without government interference. Under this system you have the maximum number of choices in life. This is the 'pursuit of happiness' from the Declaration of Independence.
Socialism, Communism and Capitalism, which would you like to live under?