socialism- an institutionalized interference with or aggression against private property and private property claims.
Capitalism- a social system based on the explicit recognition of private property and of nonaggressive, contractual exchanges between private property owners.
Not only economically but in the field of morals, too, socialism turns out to be an ill-conceived system of social organization. Again, in spite of its bad public reputation, it is capitalism, a social system based squarely on the recognition of private property and of contractual relations between owners of private property, that wins outright. It will be demonstrated that the property theory implicit in capitalism not only passes the first test of “universalization” but it turns out to be the logical precondition (die Bedingung der Moeglichkeit) of any kind of argumentative justification: Whoever argues in favor of anything, and in particular in favor of certain norms as being fair, must, implicitly at least, presuppose the validity of the property norms implicit in capitalism. To deny their validity as norms of universal acceptability and argue in favor of socialism is thus self-contradictory.