1. POLITICAL / ECONOMIC IDEOLOGIES An overview of ideas from Communism to Capitalism

2. COMMUNISM

3. Ideal is to create total equality for a country’s people Believes that PROLETARIATS (poor labourers) are currently in situation due to BOURGEOISIE (rich owners)

4. COMMUNISM, cont’d. Solution is to violently overthrow capitalist-based government, establish proletariat government New government will replace bourgeoisie as owners and managers of all MEANS OF PRODUCTION (the ability to manufacture goods for the people) and distribute these equally amogst people

5. COMMUNISM, cont’d. Therefore, no private businesses – only government-run businesses Government would have no opposition parties, although democracy would still take place (only with one party) Gov’t would control media as well, to promote Communist values Gov’t to give housing, food, etc. to people

6. SOCIALISM

7. Similar to Communism in following ways: Government is proletariat-controlled Government is in control of the means of production (no private business) Ideal is still for total economic equality and equal distribution of goods for all people

8. SOCIALISM, cont’d. Socialism differs from Communism in the following ways: Peaceful method of taking over needed Opposition parties, unions allowed Gov’t controlled by democratic system, with elections for country’s people

9. DEMOCRATIC SOCIALISM

10. Also known as “social democracy” Ideal is a MIXED ECONOMY, where there is a combination of both private business and gov’t controlled public businesses and programs Gov’t system is democracy Respects human rights and freedoms in laws created

11. DEMOCRATIC SOCIALISM Gov’t. works towards a more equal society, creating programs that improve conditions for poor (employment insurance), ill (universal healthcare), etc.

12. CAPITALISM

13. Envisioned by Adam Smith as a contrast to MERCANTILISM (colonies run by mother countries for resources) Largely an economic theory Ideal is for government to regulate businesses for fair competition, but avoid strict restrictions or control of their trade and sales

14. CAPITALISM, cont’d. Adam Smith believed that the “Invisible hand” of business would self-regulate them instead of government having to i.e.- if a business were not selling enough, it was because there was not enough demand, so the business would be forced to change what they sell, etc. In doing so, gov’t. need not give welfare for failing businesses

15. CAPITALISM, cont’d. The key is competition: private businesses must be allowed free reign to pursue profit Competing businesses would work hard to make the best product All people in country would benefit, with good products and rewards for work Thus, gov’t. should not get in the way of business, but let it work on its own

16. CAPITALISM, cont’d. Government is expected to maintain an army, courts and police Government is discouraged from creating government programs that make work, protect poor Government not to overly tax businesses

17. FASCISM

18. Fascism is a mix of authoritarianism, capitalism and state ownership Dictator and/or small group of elite have total control over government Rights of people are kept to minimum while effort is on controlling populace Control is maintained by strong army, police

19. FASCISM, cont’d. Private business is allowed to flourish, as long as they assist gov’t. and follow their rules Workers are organized into associations to be controlled (= CORPORATISM)

20. FASCISM, cont’d. Fascist gov’ts usually have popular support in country due to: People’s need to have strict government control for nation, personal safety Fear that ‘undesirable groups’, usually based on ethnicity, are attempting to corrupt country and its values Desire by people to remove, limit these groups ‘control’ over government, country