1. Capitalism vs. Communism

2. What is Capitalism?
An economic system in which individuals own and operate private businesses for profit

3. Economic Prices of goods and services determined by competition
Supply and demand

4. Social Any person is free to start a business and employ people.
Choice of many parties for government, chosen by the people. A democracy.

5. Result Freedom to succeed or to fail Equal opportunity for all
Division between rich and poor

6. What is Communism?
A political system in which the government owns all businesses and services
2 Elements
Economic
Social

7. Economic Equal distribution of wealth
The State is above the individual
People have little choice in jobs
Wages are the same no matter how much or how little you work

8. Social Government controls everything No private property
Gov’t picks a job for you
Control of media= no freedom of speech
No freedom of religion

9. Result
Government becomes totalitarian to prevent people from revolting
3 Main Methods of control by fear
Man-made famines
Slave labor camps
Executions

10. Why the Cold War?
The U.S. saw communism as a form of slavery and a threat to freedom everywhere