1. Communism and Capitalism To understand the conflict of the in Russia and the differences that come up after WW2 and the eventual Cold War you need to know the 2 different economic systems that people were fighting for or against.

2. What is Capitalism? Economic system, not a governmental style. Belief in individual ownership and competition. The theory is that when everyone is selfish, it benefits everyone. The more drive you have to have wealth and the more you are willing to work, the more wealthy you will be. Often leads to LARGE gaps between rich and poor

3. What is Communism? Economic system that is better in theory then in practice. Has never worked in all of history. Believes in communal (group) ownership and a planned and controlled economy. Workers, who make up most of a economy, should have the power. Not rich owners and rulers, just average people. The theory is that everybody pools their resources (government collects all money) and evenly distribute everything. No Rich and no poor, everyone equal. Everyone gets their share of wealth.

4. Freedom and choice. You can choose to work hard or not. You can work wherever, buy whatever, few limits if you have $$$. If you’re successful, you can be very successful. Think Bill Gates or Steve Jobs. What’s good about capitalism? No “safety net.” It is sink or swim. Big gap between rich and poor. If you’re unsuccessful, you can be very unsuccessful. Think about the those in need/ living on the streets. What’s bad about capitalism ?

5. What’s good about communism? What’s bad about communism? Security, basic needs met. You will not starve because everyone has something. Everyone would have a job, house, health care, etc. Everyone is equal and no social classes (rich vs. poor) Everyone would have a job, but it would be given to you by the government. Lack of choice, government has all the control. No reward for being a better worker or punishment for being a slacker. Everyone expected to be the same, have the same, act the same. Role of religion replaced by dedication to the government.

6. Communism and Socialism: What’s the difference? – Socialism is the stage between Capitalism and Communism. It builds upon Capitalism by having the government own the “means of production” (i.e. companies, factories, resources, banks, etc.), but not by making everyone equal. Socialism does not require the redistribution of wealth, just that the system not only favor those who already have most of the money. (Rich don’t get richer, they share with everyone else) Communism Capitalism Socialism