Capitalism, Socialism and Democracy

Capitalism is an economic system where private individuals own and control businesses, driven by profit and competition. Socialism advocates for collective or government ownership of resources and production, emphasizing equal distribution and social welfare. Democracy is a political system where citizens have the power to vote and influence decisions, ensuring representation and individual rights. These concepts often interact, as many societies blend elements of capitalism and socialism within a democratic framework, balancing economic growth with social equity and political freedoms. Understanding their roles helps grasp current political and economic debates.