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Capitalism, Socialism and Communism
Transcript of Capitalism, Socialism and Communism
Socialism Capitalism's most known philosopher is Adam Smith. Pro's and Con's of Capitalism "Socialism is an economic system characterized by social ownership of the means of production and co-operative management of the economy."
-Britannica Most notable Socialist thinker: Henri de Saint-Simon Communism "Communism is a revolutionary socialist movement to create a classless, moneyless and stateless social order structured upon common ownership of the means of production, as well as a social, political and economic ideology that aims at the establishment of this social order."
-Principals of Communism, Frederick Engels Pro's and Con's of
Communism 1. The people own the product and set the price for things.
2.No inflation would happen and could lead to a prosperous life.
3. Economic growth is present because consumers regulate it leading to prosperity.
4. Has been said to be the best alternative of any possible government, since it is one of the only ones humans can manage. Pros Con's 1. One of the major drawbacks of capitalism is that there is fierce competition for capital. 2. Economists say that capitalism may lead to the depletion of resources on our planet because capitalism always requires economic growth. 3. Some do not like capitalism since most of the time there is unfair distribution of wealth. Pros 1. In a socialistic system there is social equality having all people be able to have a education at a certain level. 2. There is economic equality and reduction of poverty having everybody have social security, minimal wage, and food stamps. 3. Everybody has the same minimum medical equality, even if not able to pay for it. 4. Political equality is higher and the there is a possibility to have more then two dominant political parties. Con's 1. Higher costs for products, as well as higher taxes for people. Most socialistic countries have higher debt per person ratio. 2. Due to high taxes there is less entrepreneurship making companies have less chances at growing and being more dynamic. 3. Once you are born in a certain social class it is harder to rise up having the taxes very high. 4. Since there are big taxes there is a big government and the bigger the government the longer it will stay in power, the longer it stays in power the less there will be of innovation and such. 5. Some people believe that Socialism is the first step to communism and since it failed in all countries before due to lack of motivation and produce . Communism's most notable thinker was Karl Marx. 1. In communism there is no social gap between the societies, since everybody is equal. 2. In a communistic country there is little to no unemployment since you are given what to do by the government. 3. In a communistic country the people have governmental protection since everyone is required to go to the army. Bibliography Con's 1. In a communistic country there are high poverty 2. There is little economic growth since the government censors many things and there is little information for the government to improve. Capitalism:
Pictures: http://upload.wikimedia.org/wikipedia/commons/0/0a/AdamSmith.jpg Socialism:
http://upload.wikimedia.org/wikipedia/commons/f/fc/Karl_Marx.jpg 3. The government censors many things which limits the peoples in their ability to receive information and be creative. 4. The government intervenes with almost everything the people do having strict control over the people giving them little freedom and enforcing extremely strict laws. The Choice The Model In communism, the government owns the chicken and the eggs. The government equally distributes the eggs amongst the people. Government owns everything but distributes the resources. In socialism, the government owns the chicken and the eggs. You buy the eggs and pay the government. The government makes all the productions. You can own your own chicken but it isn't allowed to lay eggs because the government owns the eggs. In capitalism, you own the chicken and sell its eggs. The government taxes you, but you own property and chickens who lay eggs. All:
http://thepoultryguide.com/wp-content/uploads/2013/01/hatching-eggs.jpg If humans weren't greedy and had the motivation to work then the best choice would be communism, but since the world isn't utopian and perfect the best choice is capitalism because people can own private property as well as production. By: Alina and Savva.