1. Identifying Ideological Perspectives
Communism
Socialism
Modern Liberalism
Welfare Capitalism
Classical Liberalism
Neo-conservative

2. Principles of Individualism
rule of law
individual rights and freedoms
private property
economic freedom
self-interest
competition
Principles of Collectivism
economic equality
co-operation
public property
collective interest
collective responsibility
adherence to collective norms

3. Communism A radical form of Socialism
The abolition of private property
The centralization of the means of production (such as factories and machinery) in the hands of the state
planned economy or command economy

4. Socialism
Resources controlled by the public for the benefit of society and not by private interests for the benefit of private owners and investors.
Value economic equality among citizens.
Co-operation is favoured over competition.
State involvement in the control and direction of the economy.
Focused primarily on the idea of equality and imagined a world where humans lived in such harmony and co-operation that eventually government would no longer be necessary.

5. Modern Liberalism Mixed Economy or Market Free trade
Significant gov’t intervention
All individuals valued equally
Emphasizes programs to help the disadvantaged
Promotes ideas to share the benefits of development

6. Welfare Capitalism
refers to capitalist economies that involve a comprehensive social welfare policy in the form of a welfare state
refers to the practice of businesses providing welfare services to their employees
It is based on the principles of 
equality of opportunity
equitable distribution of wealth
public responsibility for those unable to avail themselves of the minimal provisions for a good life.

7. Classical Liberalism stresses the importance of human rationality
values political freedom
holds freedom to be the basic standard in economics
believes the most beneficial economic system to be the “free market”: an economy that operates with limited government intervention and relies on the choices that rational individuals make in their own self-interest.

8. Classical Conservatism
society is organic whole
equality is not important
society is hierarchy of layers
customs & traditions are important
mixed views on economy

9. Neo- Conservative
Reaction to modern liberalism and how it fails to address contemporary political, social and economic realities.
Market or traditional economy
Limited government involvement in the economy
Limited range of social welfare programs
increased government protection of morality
maintain traditional social values
distrust of trade unionism