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Socialism and Communism. Warm-up. 1. What type of economic system is found in pure socialism? A. command B. traditional C. free enterprise 2. What is on either side of the “economic spectrum?”. Content Objective.

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Socialism and Communism

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Socialism and Communism


Warm-up

1. What type of economic system is found in pure socialism?

A. command

B. traditional

C. free enterprise

2. What is on either side of the “economic spectrum?”


Content Objective

  • Today I will be able to distinguish between capitalist, socialist and communist economic systems by constructing a double bubble thinking map.


Capitalism

  • Advantages

    • Efficiency

    • Flexibility

  • Disadvantages

    • Are needs met?

    • Who builds roads?

    • Is it stable?


Socialism

  • Mostly government owned businesses

  • Most are democracies


Socialism

  • Advantages

    • The unfortunate and unproductive still benefit from society

      • Healthcare, jobs, education, welfare

    • Leaders are elected


Socialism

  • Disadvantages

    • Lacks efficiency

      • Why work hard?

      • Very high taxes


Communism

  • Political and economic system

  • No private property

  • No free elections


Philosophy of Marx

  • “All history is the history of class struggle”

    • All history is a continuing story of conflict between the haves and the have-nots.


Marxism

  • Class differences disappear

  • All have equal access to

    • Food, shelter, clothing

    • Medical care

  • All receive full benefit from their labor

    • Factory owners no longer get rich on labor of workers


Communism- Theoretically…

  • Everyone works for everyone’s good

  • Consume according to your needs

  • No prices or wages

  • Who would Marx’s ideas appeal to?

  • Who would be opposed to Marxism?


Communism

  • Advantages

    • No one’s ever fired

    • All needs provided


Communism

  • Disadvantages

    • No individual freedom

    • Little say in job selection

    • Not free to move

    • Equal pay

      • Shoddy production


Exit Ticket

  • In a double bubble map, compare and contrast capitalism, socialism, and/or communism.


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