Communism vs Capitalism

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Presentation transcript:

Communism vs Capitalism Critical Questions for Understanding

Capitalism Allocation of scarce resources to satisfy unlimited wants

Communism Karl Marx Pure economic theory Violent class struggle between working class and those that own the means of production (gap between rich and poor). No private property Workers own the means of production Dictatorship of the proletariats Work according to ability Pay according to need No government system as the state will slowly wither away Formation of classless society Karl Marx

Why Does the Laborer Work? Do you work for the good of the community or individual gain? Who does the work?

What Governs the Economy? CAPITALISM Supply and Demand COMMUNISM Consensus of the people

How is Wealth Distributed CAPITALISM According to the merit or skill of the individual COMMUNISM According to need

How do the Individuals Relate to Each Other? CAPITALISM They compete COMMUNISM They cooperate

What is the Goal of the Economic System? CAPITALISM Individual profit and attainment of property COMMUNISM Classless society free of want and all needs of the people are met

What is the Role of the Government in Either Economic System? None in either model in its ideal form