this post was submitted on 27 Nov 2025
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[–] Cowbee@lemmy.ml 22 points 3 months ago (1 children)

Capitalism and socialism aren't like yin and yang, they describe over-arching systems. Capitalism is best described as a mode of production where private ownership is principle and capitalists in control of the state, and socialism where public ownership is the principle aspect of the economy and the working classes in control. Western countries are capitalist, socialist countries include Cuba, China, Vietnam, Laos, etc.