Robert Villegas (@V4Vendata)

The difference between capitalism and socialism is that capitalism focuses on solving human problems to accomplish a profit. Socialism claims to be focused on meeting human needs. The question for socialism is how do you measure success in meeting human needs if there is no profit? For capitalism profits are the measure of whether the goal of solving human problems is met. Socialism, because it cannot (or need not) project profits, leads to the inability calculate or measure success. This means there is no standard of measurement for meeting needs in socialism. The result of capitalism is that needs are met and profits accomplished. The result of socialism is inefficient use of capital and random production. This results in long lines, empty shelves, and products no one needs.. #socialism #capitalism #villegas #mises