communism & socialism
Post on 23-Jun-2015
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DESCRIPTIONjust found this slide on computer lab at bumiputera IPT. and its cool when this topic was presented by bumiputera student at bumiputera institute.
- 1. INTAN IZZANNA BINTI MARSULNUR SHAHEERA BINTI MOHAMEDSALEHNUR IZZATI BINTI ABU BAKARNUR AZLIN SURIANI BINTI MAMAT
2. DEFINITIONA theory or system of social organization based on theholding of all property in common, with actualownership ascribed to the community or state.Key proponent- Karl Marx, Fredrich Engels, VladimirLenin, Leon Trotsky. 3. GENERAL GOAL OF SOCIALISM To maximize wealth and opportunity To minimize human suffering through public controlof industry and social services. The means and profits of production are privatelyheld. 4. CHARACTERISTIC OF SOCIALISM In socialism means of production are owned by thestate Economic activities are planned by the centralplanning authority Absence of competition Equal opportunites to all No economic freedom to the people 5. ADVANTAGES OF SOCIALISM Grater welfare- in social economy, there is less inequalityof income as compared to capitalist economy because ofthe absence of private ownership of means of production.In socialist economic system every one works hard and paidas per his skills and ability Absence of business fluctuations- superior to acapitalist economy that is free from business fluctuation. Economic growth-a planned socialist economy functionsright according to the plan in a systematic and orderlymanners and marches rapidly on the road of economicprogress 6. DISADVANTAGES OF SOCIALISM Elimination of individualism- lack of economicfreedom, everything is controlled by a centralized body.Individuals are not allowed to own any assets, everythingbelong to state. Economic Equality- Socialists claim more equaldistribution of wealth but practically it is proven thatcomplete economic equality is virtually impossible. Since itis a planned economy the poor suffer even more. An artificial system- since it is a planned economy, everyaspect of the economy is to be determined by thegovernment. Do not apply the forces of demand andsupply.