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History of Economics According to Marx

3rd. History of Economics According to Marx. 2nd. 1st. Make sure you know the appearance Of each of these economic systems in order !!!!. a ka. Traditional Economy. Primitive Communism (Traditional Economy)-.

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History of Economics According to Marx

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  1. 3rd History of Economics According to Marx 2nd 1st Make sure you know the appearance Of each of these economic systemsin order !!!! aka. TraditionalEconomy

  2. Primitive Communism (Traditional Economy)- This is how humans first lived together – in small tribes. Primitive means basic. Communism means that everything was shared– food, jobs, belongings. No one owned land. Eventually a group comes to power – this leads to Feudalism… Generally no money. Used bartering as a way of exchanging goods. Generally not in use today but used by some African tribes.

  3. Feudalism

  4. Liberty vs Equality • Liberty -The state of being free within society from oppressive restrictions imposed by authority on one's way of life. • Equality- The state of being equal, esp. in status, rights, and opportunities. • Can you have both?

  5. /Least Amount of Equality

  6. Socialism • Mix of Equality and Liberty • Reaction to the harsh realities of Industrialization/captialism(really rich and really poor) • Between pure capitalism and pure communism • Some private ownership and some public ownership of property • Some government intervention in the economy • Redistribution of income – high taxes on the rich to provide lots of government services

  7. Maximizes Equality/ Least amount of Liberty • Karl Marx– 1848 - “The Communist Manifesto” Friedrich Engels help with ideas • Industrial Revolution – Europe – horrible working conditions - critique of capitalism- socialism does not go far enough.

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