How did are the ideas of capitalism and socialism different?

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asked Feb 20, 2022 110k views

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Andreas Baumgart · Answer 1 · 2022-02-26T11:43:40+0000

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 did are the ideas of capitalism and socialism different?

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