List two differences between the capitalist and socialist ideas of private property.

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Chapter 2

NCERT

Class 9

History

Solutions

1. List two differences between the capitalist and socialist ideas of private property.

Question:

List two differences between the capitalist and socialist ideas of private property.

Answer:

Some of the differences between capitalist and socialist ideas of private property were:

Capitalist Ideas:

Capitalists believed in private property. They were the owners of those industries in which they have invested.
They believed that profits made by industry should be enjoyed by owners only.
They believed in class-based society.

Socialist Ideas:

Socialists did not believe in private property. They thought that all properties and means of production should be socially controlled.
They believed that profits made by industries should be divided among workers because profit is the end result of their hard work.
They believed in classless society.

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