Communism vs Capitalism

Critical Questions for Understanding

Capitalism

Allocation of scarce resources to satisfy unlimited wants

CommunismCommunismPure economic theoryViolent class struggle between working class and those that own the means of production (gap between rich and poor).No private propertyWorkers own the means of productionDictatorship of the proletariatsWork according to abilityPay according to needNo government system as the state will slowly wither awayFormation of classless society

Karl Marx

Why Does the Laborer Work?

Do you work for the good of the community or individual gain? Who does the work?

What Governs the Economy?

CAPITALISMSupply and Demand

COMMUNISMConsensus of the people

How is Wealth Distributed

CAPITALISMAccording to the merit or skill of the individual

COMMUNISMAccording to need

How do the Individuals Relate to Each Other?

CAPITALISMThey compete

COMMUNISMThey cooperate

What is the Goal of the Economic System?

CAPITALISMIndividual profit and attainment of property

COMMUNISMClassless society free of want and all needs of the people are met

What is the Role of the Government in Either Economic System?

None in either model in its ideal form