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Capitalism and Socialism are very different. Their ideas are basically opposite each other and there is a huge gap between their beliefs. But despite this, they do have some similarities. In this paper, I will talk about Capitalism and Socialism, as well as Market economy and Command economy. These 2 also have many similarities and contrasts.
Capitalism first appeared between the 16th and 19th centuries. It became the dominant economic system for the western world since the decline of Feudalism. And once the industrial revolution began, it spread from Europe through out much of the world, becoming the global means of industrialization. Socialism has a much different history. It has some of it's origin in the working class movement in the 19th century. Karl Marx started the Socialist Movement, so most could say that he started Socialism.
Capitalism, by definition, is an economic system in which the means of production are mostly privately owned, and capital is invested in the......

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Approximate Word Count: 500
Approximate Pages: 2 (250 words per double-spaced page)

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