Capitalism:
1- progress results when individuals follow their own self interest
2- individuals and businesses own properties and the means of production.
3- government should not interfere in the economy because competition creates efficiency in business.
Socialism:
1- the community or the state should own property and the means of production.
2- progress results when am community of producers cooperate for the good of all
3- capitalism creates unequal distribution of wealth and material goods. A better system is to distribute goods according to each persons needs