:capitalism an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market
… that's how capitalism works — the market sets the price.
—Shawn Windsor
Profit is among the driving forces of capitalism and often stimulates overwhelming competition.
—Jaimie Green
socialism
a
: a system of society or of group living in which there is no private property
b
: a system or condition of society in which the means of production are owned and controlled by the state
a stage of society in Marxist theory that is transitional between capitalism and communism (see communism sense 2c) and is distinguished by unequal distribution of goods and pay according to work done
communism a totalitarian system of government in which a single authoritarian party controls state-owned means of production,
a theory advocating elimination of private property
one promotes INDIVIDUAL RIGHTS, the other says no ONE PERSON has any rights.