Capitalism is in most aspects a refined form of all economic systems in history. While, many socialists see it as barbaric and competitive, capitalism represents the basic system nearly all countries practice on a national level. The difference between capitalism and socialism is the level on which they choose to practice capitalism. The United States practices capitalism on an individual level more so than say Great Britain and much more so than a true socialist republic.
What do I mean by different levels? Well, it is important to understand the basic concepts of capitalism. First an entity produces a product. Next, it puts that product on the market for sale. Finally, a buyer purchases the product at hopefully a profit to the producer. This is the essential premise behind capitalism. The profit motive pushes people to create something in order to exchange it for a gain. Now, if one entity has a similar product but he can sell it at a much lower cost, then the consumer wishes to purchase the item that costs less.
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