Civics Capitalism vs Communism
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Transcript of Civics Capitalism vs Communism
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Economic Systems:Capitalism vs Communism
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Capitalism: What is it?
economic system
investing capital--anything of value--with the specific purpose of making a profit
production is based on what people want
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wrote The Wealth of Nationsfair competition leads to prosperitylaissez-faire“invisible hand” = market forces
importance of consumerism and expansion
Adam Smith
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Role of the gov. in capitalism• in theory, it is laissez-faire
• in practice....
• subsidies and tax breaks
• stimulus plan
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• wrote The Origins of Species by Means of Natural Selection
• survival of the “fittest”
• connection to capitalism
Charles Darwin
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Critique of capitalism: socialism and communism
• capitalism leads to suffering
• everyone should be equal
• public should own the means of production
• cooperation over competition
• production is based on what people need
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Communism
• “Workers of the world unite!”
• history is based on class struggle
• opposed surplus value
• opposed religion and exploitation
• supported free education for children
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What’s the difference between socialism & communism?
• private property
• social classes
• stage of development
• true communism has NEVER existed