How is socialism different from capitalism?

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asked Jun 15, 2022 80.2k views

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DrewCo · Answer 1 · 2022-06-21T17:16:59+0000

Answer:

Capitalism is based on individual initiative and favors market mechanisms over government intervention, while socialism is based on government planning and limitations on private control of resources.

How is socialism different from capitalism?

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How is socialism different from capitalism?