1. Objective: Cover the development of Communism and Socialism

2. Communism and Socialism Are two other kinds of economies that some nations practice Communism is a command economy where the government owns and controls almost all businesses Socialism is a mixed economy where the government owns some of the major businesses in the country And where people outside the government made some economic decisions

3. Ideas of Karl Marx Karl Marx 1818 to 1883 Is considered the farther of Socialism and Communism Marx wrote the Communist Manifesto Marx believed workers were being treated badly by Capitalist Marx believed the workers would rise up and overthrow the rich

4. Working Conditions Workers were paid very little Workers worked 16 hrs a day on average In very dangerous and unclean conditions If a worker was injured on the job he was fired and replaced Children as young as seven worked 16 hrs a day

5. Under Communism There would be no private property All people would share wealth After a while the government would disappear Leaving a worker’s paradise

6. Socialism Today People who believe in socialism are called socialists Socialists believe public (government) ownership protects workers from bad working conditions and low pay They believe the government should answer the three basic questions of economics

7. Socialism Today Socialists want to make sure no one becomes too rich or too poor Socialists want to control key parts of the economy such as Health Care, Banking, Railroads, Mines, Steel Industry In socialist countries must services are free such as: education, child care, medical, unemployment and retirement benefits However taxes in these countries are extremely high in some cases 60% of your income

8. Communism Today Under communism government owns everything People are told where to work and pay is set by the government People’s Republic of China is under communism Government directs the economy Farmers may rent land from the government for a price In 1989 a student up rising was crushed by the communist in Tiananmen Square