Socialism:

Socialism is an economic and political system where the means of production, distribution, and exchange are owned and controlled by the community as a whole. It advocates for the equitable distribution of wealth and resources among all members of society. Here are some key points about socialism:

1. Ownership: In socialism, the means of production, such as factories, land, and natural resources, are collectively owned by the community or the state. This ensures that wealth and resources are not concentrated in the hands of a few individuals or private companies.

2. Central Planning: Socialism often involves central planning, where the government or a central authority determines production and allocation of goods and services. This allows for the equitable distribution of resources and aims to meet the basic needs of all members of society.

3. Income Redistribution: Socialism aims to reduce income inequality by redistributing wealth from the rich to the poor. This is typically achieved through progressive taxation and social welfare programs that provide public services such as healthcare, education, and housing.

4. Equality: Socialism promotes the idea of equality, both in terms of economic opportunities and social rights. It emphasizes the importance of social solidarity and cooperation over competition, with the goal of creating a more just and inclusive society.

Communalism:

Communalism is a social and political philosophy that advocates for the decentralization of power and the establishment of self-governing communities. It emphasizes the importance of community ownership and decision-making. Here are some key points about communalism:

1. Decentralization: Communalism seeks to decentralize political, economic, and social power, allowing local communities to govern themselves. It opposes centralized authority and hierarchical structures in favor of direct democracy and participatory decision-making.

2. Community Ownership: Communalism promotes the idea that resources and means of production should be collectively owned and managed by the community. This ensures that decisions about resource allocation and distribution are made democratically and in the best interest of the community as a whole.

3. Ethics and Ecology: Communalism emphasizes the importance of ethical values and ecological sustainability. It seeks to build a society that is environmentally conscious and prioritizes the well-being of both human and non-human beings.

4. Local Autonomy: Communalism advocates for local autonomy and self-sufficiency. It encourages communities to develop their own economic systems, cultural practices, and social institutions, while also fostering cooperation and coordination with other communities.

Capitalism:

Capitalism is an economic system based on private ownership of the means of production and the pursuit of profit. It is characterized by free markets, competition, and the accumulation of capital. Here are some key points about capitalism:

1. Private Ownership: In capitalism, individuals and private companies have the right to own and control the means of production, such as land, factories, and businesses. This allows for the accumulation of wealth and the pursuit of profit.

2. Market Economy: Capitalism operates on the principles of supply and demand, with prices determined by market forces. The production and distribution of goods and services are driven by competition among businesses seeking to maximize their profits.

3. Profit Motive: Capitalism

Socialism - It's a type of economical system in which the property is decentralised to government and centralised to people. Everyone has an equal economical status and all assets(economical) are nationalised. Ex. Russia, India etc.

Communalism - 'Communist' are those who centralises property to government itself. It is equally divided in masses by government but actual ownership is of government. In such countries people do not have any rights. Ex. Former USSR, China etc.

Capitalism - Here the property is supreme. The one who hold larger share holds the power too. The man of property is man of power too. In such countries discrimination is seen. Ex. U. S. A. etc.