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Theoretically, this dynamic drives companies to make the best products they can for as cheaply as they can; capitalism is intended to drive business owners to find more efficient ways of producing quality goods. For consumers, this dynamic is intended to create a system wherein they have the freedom to choose the best and cheapest products.

This emphasis on efficiency takes priority over equality. An equal distribution of goods and services among all members of a society is of little concern within a capitalist system. According to the economic theories that underpin capitalism, inequality is the driving force that encourages innovation, which results in economic development. 

In a socialist economy, the state owns and controls the major means of production. In some socialist economic models, worker cooperatives own and operate the primary means of production. A worker cooperative is a firm that is owned and self-managed by its workers. Other socialist economic models allow individual ownership of enterprise and property, albeit with higher taxes and a higher degree of government controls.

The primary concern of the socialist model of economics is an equitable distribution of wealth An equitable distribution of wealth is meant to ensure that all members of a society have an equal opportunity to attain certain economic outcomes. To achieve this, the state intervenes in the labor market.