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CAPITALISM VS. SOCIALISM/COMMUNISM

CAPITALISM VS. SOCIALISM/COMMUNISM. TWO MAIN SYSTEMS OF GOVERNMENT. CAPITALISM WHO? BOOK?. Adam Smith Wrote the Wealth of Nations “Liberty guarantees economic progress, therefore government shouldn’t interfere”. CAPITALISM WHAT IS MOST IMPORTANT FOR BUSINESS?.

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CAPITALISM VS. SOCIALISM/COMMUNISM

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  1. CAPITALISM VS. SOCIALISM/COMMUNISM TWO MAIN SYSTEMS OF GOVERNMENT

  2. CAPITALISMWHO? BOOK? • Adam Smith • Wrote the Wealth of Nations • “Liberty guarantees economic progress, therefore government shouldn’t interfere”

  3. CAPITALISMWHAT IS MOST IMPORTANT FOR BUSINESS? • Individual worker is most important • Workers work harder when they make profit • Companies do better when they make profit

  4. CAPITALISMROLE OF GOVERNMENT • Laissez-faire  government shouldn’t be involved • Free market, unregulated by government • “Let people do as they please”

  5. Capitalismview of wealth • Wealth motivates people to work • If you don’t work you will be poor • Sellers make $ by producing things people want to buy; buyers spend $ on things they want most

  6. Capitalismview of property • Private property • You work harder for what’s yours

  7. Capitalismwhat each dislikes about the other • No reason to work harder • Individual doesn’t matter • Can’t get rich

  8. Socialism/Communism • Communism

  9. Socialism/Communismwho? Book? • Karl Marx (& Friedrich Engels) • Wrote Communist Manifesto & Das Capital • Said human societies have always been divided into classes  bourgeoisie (owners, “haves”) vs. proletariat (workers, “have-nots”

  10. Socialism/Communismwhat is most important for business? • Society as a whole is most important • All people should be equal • Marx felt capitalism would destroy itself  factories take over small businesses (control everything), workers would revolt, & society would eventually become a classless society • Final phase is COMMUNISM

  11. Socialism/communismrole of government • Government should be in total control • Government would make sure wealth is distributed evenly

  12. Socialism/communismview of wealth • Wealth should be distributed evenly • No rich & no poor

  13. Socialism/communismview of property • No private property • Everything is shared by the people

  14. Socialism/communismwhat each dislikes about the other • Some people are poor • People are too greedy • Owners mistreat workers to make $

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