Capitalism is the situation in a country when the trade and
industries are owned by the corporate. While in socialism the
government controls all the economic activities not the corporate
or private sector.
The basis of the Capitalism runs on the principle of individual
rights while the Socialism works on the basis of principle of
equity.
Capitalism means of production is owned by the privates while
Socialism is socially owned.
In Capitalism the competition between the firms is very high
but in socialism there is less competition or no competition.
Capitalism is more efficient than the socialism.
In Capitalism there is marginal intervention of the government
while in Socialism the intervention is very high.
The freedom to follow any religion is common in both but
Socialism focuses on the secularism.