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Concept
Anti-capitalism
Summary
Anti-capitalism is a political ideology and movement encompassing a variety of attitudes and ideas that oppose capitalism. In this sense, anti-capitalists are those who wish to replace capitalism with another type of economic system, such as socialism or communism.
Socialism
Socialism advocates public or direct worker ownership and administration of the means of production and allocation of resources, and a society characterized by equal access to resources for all individuals, with an egalitarian method of compensation.
A theory or policy of social organisation which aims at or advocates the ownership and democratic control of the means of production, by workers or the community as a whole, and their administration or distribution in the interests of all.
Socialists argue for a worker cooperative/community economy, or the commanding heights of the economy, with democratic control by the people over the state, although there have been some undemocratic philosophies. "State" or "worker cooperative" ownership is in fundamental opposition to "private" ownership of means of production, which is a defining feature of capitalism. Most socialists argue that capitalism unfairly concentrates power, wealth and profit, among a small segment of society that controls capital and derives its wealth through exploitation.
Socialists argue that the accumulation of capital generates waste through externalities that require costly corrective regulatory measures. They also point out that this process generates wasteful industries and practices that exist only to generate sufficient demand for products to be sold at a profit (such as high-pressure advertisement); thereby creating rather than satisfying economic demand.
Socialists argue that capitalism consists of irrational activity, such as the purchasing of commodities only to sell at a later time when their price appreciates, rather than for consumption, even if the commodity cannot be sold at a profit to individuals in need; they argue that making money, or accumulation of capital, does not correspond to the satisfaction of demand.
Official source
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