"Modern American liberals are democratic capitalists. That is, they believe that private capitalist individuals should own and control the means of production, as long as they operate within the democratic law. By contrast, socialists believe that everyone should own and control the means of production."
http://www.huppi.com/kangaroo/L-socialism.htm"Socialism means that workers, not private owners, would own and control the means of production: factories, farmland, machinery, and so on...
...By comparison, liberals believe that private owners should own and control the means of production, formulate company policy, and have the right to select their own management team. Liberals would prevent them from abusing their powers through checks and balances like strong labor unions and democratic government."
http://www.huppi.com/kangaroo/ShortFAQ.htm#socialismLot's more here:
http://web.ask.com/web?q=what+is+the+difference+between+liberalism+and+socialism%3F&qsrc=0&o=0
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