Competing Economic Systems Communism Socialism Fascism Capitalism.
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Transcript of Competing Economic Systems Communism Socialism Fascism Capitalism.
CommunismAssumptions About Political System
• More important:– Equality– Economic security
• Less important– Voting– Freedom of expression– Personal freedom
SocialismOwner of Means of Production
• Government owns much– Especially the big industries
• Individuals own some– Especially smaller businesses
SocialismRole of Individual
• Some room for personal profit
• But also has obligation to work for good of society
SocialismAssumptions About Political System
• More personal freedom than in Communism, less than in Capitalism
• Less emphasis on economic security than in Communism, more than in Capitalism
SocialismDefinition of “Human Rights”
• Involves both right to eat, survive, be secure with rights to vote, and have personal freedom
FascismGovernment Role in System
• Ultimate decision maker in all affairs
• Ultimate decider of allocation of resources
FascismAssumptions About Political System
• Individual rights not important
• Government to have total control– Usually a police state
FascismDefinition of “Human Rights”
• “Human rights” not very important
• Strength of the nation is the overall goal
CapitalismRole of Government in System
• Largely stays out (“laissez-faire”)
• Possibly some regulation
CapitalismAssumptions About Political System
• Less important:– Equality– Economic security
• More important– Voting– Freedom of expression– Personal freedom