Socialism is the belief that the resources of wealth are fixed and limited, and therefore must be distributed.
Capitalism is the belief that the resources of wealth are not fixed nor limited, but rather are created.
Socialism demands equality of output even when there is no equality of input.
Capitalism demands the output to be a direct result of the input.
Socialism forces fairness for the whole while destroying the rights of the individual.
Capitalism forces fair treatment of the individual while creating inequality for the whole.
Socialism has never created a wealthy nation.
Capitalism has created wealthy nations.