Capitalism’s inherent structure, will always put business owners and investors against the working class. Capitalists are also in competition against each other and will look to maximize their profits by cutting their costs, which includes labor costs. Workers seek higher wages, fairer treatment, and better working conditions at the same time. These two characteristics are fundamentally at odds, which creates class conflict.
Socialism: A Comparison to Capitalism
Socialism is an economic and political system where the means of production are owned and managed collectively, often by the state or cooperatives. It is a system of social welfare, equality, and the distribution of wealth. While capitalism is driven by profit, socialism focuses on meeting collective needs and reducing disparities.
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