Civics Capitalism vs Communism

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Civics Capitalism vs Communism

  1. 1. Economic Systems:Capitalism vs Communism
  2. 2. Capitalism: What is it?economic systeminvesting capital--anything of value--with thespecific purpose of making a profitproduction is based on what people want
  3. 3. Adam Smithwrote The Wealth of Nations fair competition leads to prosperity laissez-faire “invisible hand” = market forcesimportance of consumerism and expansion
  4. 4. Role of the gov. in capitalism• in theory, it is laissez-faire• in practice.... • subsidies and tax breaks • stimulus plan
  5. 5. Charles Darwin• wrote The Origins of Species by Means of Natural Selection• survival of the “fittest”• connection to capitalism
  6. 6. 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
  7. 7. Communism• “Workers of the world unite!”• history is based on class struggle• opposed surplus value• opposed religion and exploitation• supported free education for children
  8. 8. What’s the difference between socialism & communism?• private property• social classes• stage of development• true communism has NEVER existed

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