Capitalism is an economic system of government that hinges on a free market and economic market is in a capitalism country has little to no barriers and regulations for trade and is often referred to as laissez faire economy or economy. Capitalism countries promote free enterprise among their citizens, who primarily own and operate the means of production. However Great Britain and is a countries whose economic systems of government come closest to pure capitalism. Communist, and socialist countries also do not invade other countries for oil. Not only is Brittan extremely capitalist it is probably one of the top 3 most capitalist countries in Europe. Britain’s biggest industry is banking and capitalism goes hand in hand. In contrast to capitalism, socialism exists when the government has complete control over the economy. Also as to a command economy, a socialist economic system of government refers to a government that owns and operates the means of production. The goal of a socialistic economic system is to create the most good for the most number of people. In its purest form, citizens have no input or control in the economy for this reason, socialism economies often coexist with authoritarian political systems. Because the governments of socialistic societies occasionally work with the private sector and the former Soviet Socialist are with socialist form of government. It is most common for people to confuse communism with socialism or consider it to be synonymous with a command economy. Communism is a Utopian economic system that has never come to fruition and is only talked about in theory. It differs from capitalism and socialism because it exists without a political system. The economic system becomes the government and the public equally owns and operates the means of production.
Although the former Soviet Union was often referred to as communist. Socialism is not a government type; it is an economic system spreading the wealth around...