'Why socialism fails'
They run out of other people's money....
There is also no incentive to work hard, to do your best, and to 'succeed'.
That's communism, brainwashed functional MORON.
Both systems run out of other people's money.
The primary difference between the two is that communism is both an economic and political system, while socialism is only an economic system, and as such can exist within a number of political systems or even within parts of a larger economic system, such as capitalism.
As an economic system, socialism seeks to manage the economy through deliberate and collective social control. Communism, however, seeks to manage both the economy and the society by ensuring that property is owned collectively and that control over the distribution of resources is centralized to achieve both classlessness and statelessness. Under communism, As an economic system, socialism seeks to manage the economy through deliberate and collective social control. Communism, however, seeks to manage both the economy and the society by ensuring that property is owned collectively and that control over the distribution of resources is centralized to achieve both classlessness and statelessness.
Under communism, all people are considered equal and are provided for equally, regardless of their contributions to the economy or to society.
Listen to Bernie Sanders this is what he is for.