Socialism and Communism Objective: Cover the development of Communism and Socialism
Capitalism <ul><li>Economy is driven by supply and demand </li></ul><ul><li>Resources are free to move in and out of indus...
Communism and Socialism <ul><li>Are two other kinds of economies that some nations practice </li></ul><ul><li>Communism is...
Ideas of Karl Marx <ul><li>Karl Marx 1818 to 1883 </li></ul><ul><li>Is considered the father of Socialism and Communism </...
Working Conditions <ul><li>Workers were paid very little </li></ul><ul><li>Workers worked 16 hrs a day on average </li></u...
Under Communism <ul><li>There would be no private property </li></ul><ul><li>All people would share wealth </li></ul><ul><...
Socialism Today <ul><li>People who believe in socialism are called socialists </li></ul><ul><li>Socialists believe public(...
Socialism Today <ul><li>Socialists want to make sure no one becomes too rich or too poor </li></ul><ul><li>Socialists want...
Communism Today <ul><li>Under communism government owns everything </li></ul><ul><li>People are told where to work and pay...
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19 Socialism And Communism

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19 Socialism And Communism

  1. 1. Socialism and Communism Objective: Cover the development of Communism and Socialism
  2. 2. Capitalism <ul><li>Economy is driven by supply and demand </li></ul><ul><li>Resources are free to move in and out of industries </li></ul><ul><li>Private property rights exist, are legal, and enforced by government </li></ul><ul><li>Those who take risks are rewarded by higher profits </li></ul><ul><li>The three basic economic questions are all decided in a decentralized way by individuals </li></ul>
  3. 3. Communism and Socialism <ul><li>Are two other kinds of economies that some nations practice </li></ul><ul><li>Communism is a command economy where the government owns and controls almost all businesses </li></ul><ul><li>Socialism is a mixed economy where the government owns some of the major businesses in the country </li></ul><ul><li>And where people outside the government make some economic decisions </li></ul>
  4. 4. Ideas of Karl Marx <ul><li>Karl Marx 1818 to 1883 </li></ul><ul><li>Is considered the father of Socialism and Communism </li></ul><ul><li>Marx wrote the Communist Manifesto </li></ul><ul><li>Marx believed workers were being treated badly by Capitalist </li></ul><ul><li>Marx believed the workers would rise up and overthrow the rich </li></ul>
  5. 5. Working Conditions <ul><li>Workers were paid very little </li></ul><ul><li>Workers worked 16 hrs a day on average </li></ul><ul><li>In very dangerous and unclean conditions </li></ul><ul><li>If a worker was injured on the job he was fired and replaced </li></ul><ul><li>Children as young as seven worked 16 hrs a day </li></ul>
  6. 6. Under Communism <ul><li>There would be no private property </li></ul><ul><li>All people would share wealth </li></ul><ul><li>After a while the government would disappear </li></ul><ul><li>Leaving a worker’s paradise </li></ul>
  7. 7. Socialism Today <ul><li>People who believe in socialism are called socialists </li></ul><ul><li>Socialists believe public(government) ownership protects workers from bad working conditions and low pay </li></ul><ul><li>They believe the government should answer the three basic questions of economics </li></ul>
  8. 8. Socialism Today <ul><li>Socialists want to make sure no one becomes too rich or too poor </li></ul><ul><li>Socialists want to control key parts of the economy such as Health Care, Banking, Railroads, Mines, Steel Industry </li></ul><ul><li>In socialist countries most services are free such as: education, child care, medical, unemployment and retirement benefits </li></ul><ul><li>However taxes in these countries are extremely high in some cases 60% of your income </li></ul>
  9. 9. Communism Today <ul><li>Under communism government owns everything </li></ul><ul><li>People are told where to work and pay is set by the government </li></ul><ul><li>Government directs the economy </li></ul><ul><li>After the “Great Leap Forward” flopped things began to change </li></ul><ul><li>People’s Republic of China is under communism but, is moving toward a mix market economy </li></ul><ul><li>When shifting from a communist to a capitalist system corruption is always a threat </li></ul>

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