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Socialism aims at equality and social justice through government ownership and control over the means of production. Yet, no socialist country has been able to realise these aims. Even in Russia which is the pioneer of Socialism, much injustice, oppression and inequality prevails.

There are glaring disparities between the elite and the masses. On the contrary, the Capitalist system is based on private property and voluntary exchange. People have disliked it on the presumption that it serves narrow and vested interests only.

However, Capitalist countries have shown better results as people there enjoy comparatively more freedom and prosperity, and less injustice and inequality. It would be incorrect to say that socialism or communism was made corrupt by wicked and incompetent rulers or that capitalism has been successful in spite of the prevalence of immoral values in it. No political system can succeed unless its good and moral qualities are sustained.

However idealistic any particular system may be, it can be upheld only by ensuring respect for the dignity and individuality of each person, his rights and values, and by guaranteeing his personal freedom. Compulsion and the use of force, or exertion of psychological pressure should give way to gentle urging, reasoning and convincing. This is the fundamental value in inter-personal human relationships in society.

The capitalist countries perform even better as compared to the socialism because it is based on :

APrivate property and voluntary exchange ✓ Correct
BPublic property and voluntary exchange
CPrivate property and involuntary exchange
DPublic property and involuntary exchange
Correct answer: (A) Private property and voluntary exchange
Explanation

The passage says the capitalist system rests on private property and voluntary exchange. So option A is correct.

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