Difference Between Capitalism and Socialism
Posted inGovernment & Politics

Difference Between Capitalism and Socialism

Capitalism may be defined as an economic system in which all or most means of production are owned and controlled by private individuals and in which the economic activity of the government is at a minimum while Socialism is an economic system where the state takes the major economic decisions through detailed planning. Countries that adopt this system do not believe in the efficacy of market forces.
Aristocracy | Definition, Features, Merits & Demerits
Posted inGovernment & Politics

Aristocracy | Definition, Features, Merits & Demerits

Aristocracy is a form of government in which the rich rule largely in their own interest. An aristocratic state is one in which the nobility rules. As a form of oligarchy, The aristocratic ruling class is usually small and reported for the exploitation of the poor and the landless peasantry for the support of state works of various kinds.
Difference Between Monarchy and Republic
Posted inDifference Between

Difference Between Monarchy and Republic

Both the monarchy and the republic are systems of government. However, the republic is opposed to the monarchy in the way of governing. In the monarchy, the head of state remains in power for life, or even abdicates. In the republic, the head of state is democratically elected for a certain period of time. In a monarchy, with the exception of elective monarchies, which are not so common today, heredity is an important factor. In the regime, the sons of monarchs are their successors. In the republic, new heads of state are elected by the people after a term that usually lasts about four or five years.