POLITICAL PHILOSPHIES PART 2 ENG4U MS FRACASSI-RONALDO JULY 12, 2012

REVIEW- WHAT DID WE DISCUSS YESTERDAY? Socialism a theory or system of social organization  that advocates the putting ownership and control of the means of production, land, property, etc in the community as a whole. Modern socialism originated from an 18th-century intellectual and working class political movement that criticised the effects of industrialisation and private property on society (the idea of the “1%” has existed for 200 years). Involves having a large centralised government

WHAT ELSE DID WE LEARN Communism a theory or system of social organization  that advocates the putting ownership and control of the means of production, land, property, etc in the community as a whole. 2. ( often initial capital letter ) a system of social organization in which all economic and social activity is controlled by a totalitarian state dominated by a single and self-perpetuating political party. In theory, is supposed to involve little to no central government

SOCIALISM- As economic theory Centralized government allowed Production and distribution is owned/regulated by this centralized government Distribution of gains according to deeds (quantity and quality of work done). Regulation and ownership by government, but private ownership all right as long as regulated/distributed amongst laborers. Ownership is concentrated primarily to the workers (known as "collective ownership") More people have a say in how the economy operates

COMMUNISM- As economic theory No centralized government recognized Production and distribution is through collective ownership by all in community. Distribution of gains according to needs within the community. People work because they want to contribute to overall good of their society. Ownership by all, equally. Less people have a say in how the economy operates.

COMMUNISM- As political theory Communism can be applied as an economic, as well as a political, theory. Sees capitalism as a dictatorship. When the working class takes over, all will be balanced and a classless society will emerge. This is the ultimate political goal. Doesn't allow for democracy. Society will be taken care of equally. Whatever is provided to one will be provided in the same measure to another. No personal gain or profit.

SOCIALISM- As political theory Socialism in theory applies more to economics but can be practiced in politics. Can co-exist with capitalism. Nonetheless, aims to empower the workers, while minimizing the influence of the upper classes managing. Can co-exist with democracies. Everyone who contributes labor will profit from it. Or anyone within the society who contributes will reap the benefits (i.e., universal healthcare and education to citizens/residents)

Examples Socialism  Health care Communism  Government provides food rations

Capitalism

What is it? Capitalism is an economic system that is based on private ownership of the means of production and the creation of goods or services for profit. Competitive markets, wage labor, capital accumulation, voluntary exchange, and personal finance are also considered capitalistic.

Criticisms of capitalism Social inequality Unfair distribution of wealth and power Oligopoly (entire market controlled by a small number of firms) Government /society by oligarchy (small number of people hold all the power) Repression of workers and economic inequality Unemployment economic instability http://www.youtube.com/watch?v=-YuxAYnX_jY