1. Political Systems Communism, Capitalism & Socialism

2. Communism Based on a moral outrage at poverty and private rights at the expense of the welfare of society as a whole. Communists believe that Capitalism exploits/degrades workers…transforming them into beasts of burden and machines that enable the rich to get richer and the poor to get

3. Political Systems Production facilities are state owned and production decisions are made by the government. DISCOURAGES PERSONAL INCENTIVE.

4. Political Systems CAPITALISM A SOCIAL SYSTEM BASED ON HE RECOGNITION OF INDIVIDUAL RIGHTS, INCLUDING PRIVATE PROPERTY rights. Under capitalism, the state is separated from religion. Capitalism in the U.S. is LAISSEZ-FAIRE (hands off economics). Concept created by ADAM SMITH.

5. Political Systems Capitalism GUARANTEES political freedom. Essential flaw of Capitalism is that there will be those who DO NOT succeed. Poverty, homelessness,and those without health care, etc.

6. Political Systems SOCIALISM Economic and social system under which certain industries and social services are publicly and cooperatively owned and DEMOCRATICALLY controlled with a view to equal opportunity and equal benefit for all.

7. Political Systems Socialists advocate nationalization (government ownership and control) of natural resources, basic industries, banking/credit institutions and utilities. Socialists are typically committed to the idea of the abolition of aristocratic privilege.