Post on 13-Jan-2017
transcript
Capitalism, Socialism and Communism
Capitalism• Ideology Associated with Adam Smith (“Wealth of
Nations”)– “It is not from the benevolence of the butcher, the
brewer, or the baker that we expect our dinner, but from their regard to their own interest.” – Smith
• Private Ownership• Laissez faire Economy• Competition• Ensures Quality Products and Services at low Prices• No Government Intervention in the Market• Market acting as a Self-regulator
Adam Smith
Karl Marx
Marxism
Basic Communism
Feudalism
Capitalism
Communism!!!!
Socialism
Communism
• Economic system.• Believes in collective (group) ownership and a
planned economy. • No Concept of private Ownership• The theory is that everybody pools their
resources and labor to evenly distribute everything.
Stage 1: Primitive Communism• This is how humans lived together
before the emergence of large-scale agriculture.
• Small hunting and gathering tribes• Everything was shared amongst the
tribe-food, jobs, belongings. • No one owned land and no one is
exploited for their labor.• Eventually one group comes to power
which leads to Feudalism…
Stage 2: Primitive Communism - Feudalism
• Under feudalism, a king becomes ruler over all the people. Exploitation begins.
• Belief in the Divine Rights of the King to Rule• The king gives land and privileges to nobles who
rule the people on behalf of him • As trade develops, some people get richer. This
leads to Capitalism…
Stage 3: Feudalism - Capitalism• Business owners or capitalists get richer while
the workers do the work.• Capitalists get more power to serve their own
interests.• Capitalism creates a large working-class of
people who organize, create unions, and demand changes. This leads to Socialism…
Stage 4: Capitalism-Socialism• In the Socialist revolution all the rulers lose power, wealth,
and privilege.• Workers take control of the country to produce things for
everyone. No one is exploited.• Nothing is made for profit therefore all people benefit.• These ideas spread across the world to create Communism…
Stage 5: Socialism-Communism
• Socialism recognizes the boundaries of a country, while Communism does not recognize the boundaries
• All Across the World, all the property is jointly owned by the People
• Money Ceases to Exist and people mutually dependent on each other
• All human activity goes towards benefiting each other-allowing all to live their lives to the fullest.
Communism/Socialism: What’s the difference?
• Socialism is, “from each according to their ability, to each according to their Work.”
– Socialism is the stage between Capitalism and Communism. It builds upon the previous system (Capitalism) by nationalizing the “means of production” (i.e. corporations, resources, banks, etc.), but not by making everyone equal.
– Communism is extreme Form of Socialism which aims to set up Classes, Moneyless and Stateless Society
• Communism is “from each according to their ability to each according to their NEEDS.”