1. Command Economies
Unit 2.2

2. Government Controls Centrally planned economy Socialism Communism
An economic system in which the government owns some or all of the factors of production
Communism
Extreme form of socialism where the government controls all of the factors of production, authoritarian, no personal freedoms
Authoritarian
Characteristic of both socialism and communism?

3. Karl Marx: Economic Revolutionary
Wrote “The Communist Manifesto” about how capitalism creates wage slavery
“Das Kapital” lays out the vision of how society will be transformed by revolt of the workers
Control of society will change when the workers control the means of production

4. North Korea and other Communist Governments
Results of the Communist experiment
Communism never really existed
Lack of personal incentive
North Korean Army controls all of the economy
China, North Korea, and Market reforms
Shortages, and the problems of central planning