political systems communism, capitalism & socialism
Post on 03-Jan-2016
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Political Systems
Communism, Capitalism & Socialism
Communism
• Based on a moral outrage at poverty and private rights at the expense of the welfare of society as a whole.
• Communists believe that Capitalism exploits/degrades workers…transforming them into beasts of burden and machines that enable the rich to get richer and the poor to get
Political Systems
• Production facilities are state owned and production decisions are made by the government.
• DISCOURAGES PERSONAL INCENTIVE.
Political Systems
• CAPITALISM• A SOCIAL SYSTEM BASED ON HE
RECOGNITION OF INDIVIDUAL RIGHTS, INCLUDING PRIVATE PROPERTY rights.
• Under capitalism, the state is separated from religion.
• Capitalism in the U.S. is LAISSEZ-FAIRE (hands off economics). Concept created by ADAM SMITH.
Political Systems
• Capitalism GUARANTEES political freedom.
• Essential flaw of Capitalism is that there will be those who DO NOT succeed. Poverty, homelessness,and those without health care, etc.
Political Systems
• SOCIALISM
• Economic and social system under which certain industries and social services are publicly and cooperatively owned and DEMOCRATICALLY controlled with a view to equal opportunity and equal benefit for all.
Political Systems
• Socialists advocate nationalization (government ownership and control) of natural resources, basic industries, banking/credit institutions and utilities.
• Socialists are typically committed to the idea of the abolition of aristocratic privilege.
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