WHAT IS CAPITAL? WHAT IS COMMUNITY? Capitalism & Communism

Capitalism Communism Democratic Government Private Property Free Enterprise Freedom of the Speech, press, etc… Individual is most important Totalitarian Government Government Property No Free Enterprise Press is controlled by the government Community is more important What’s the Difference?

Communist Philosophy People need each other (community) When people work together, they achieve better things. Everyone’s needs are equal Government’s job is to make sure our needs are met To do this, the government should have central control of the economy People should be compelled to work together if they’re not willing From each according to ability, to each according to need

Capitalist Philosophy People need freedom When people compete, they’re driven to better things Some people have more, because they’re more capable Government should not interfere except to protect and enforce contracts The government should interfere as little as possible with the economy Trust the invisible hand!

Bibliography Information paraphrased from Accessed on 3/6/14 The Communist Manifesto by Karl Marx and Friedrich Engels An Inquiry into the Nature and Causes of the Wealth of Nations by Adam Smith