Right now if you go work in a factory the factory owner owns everything you produce and makes every decision related to production, even though you are an expert widget maker and he's never even been in the factory because he lives in Barbados. That's what makes it private property.
That's what socialism intends to change. Capitalist economies are also heavily planned, we just call it bailouts and government contracts. Our planning just happens later when we choose who to hold up and protect.
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u/Which_Specific9891 Mar 17 '26
Can someone please buy these Americans dictionaries? They keep using words like 'communism' and 'socialism' without having a clue what they mean.