1. CAPITALISM VS. SOCIALISM-

2. CAPITALISM  Political power accesible to all: Economic power concentrated in a wealthy elite.  Capital incomes beyond consumption capacy for a wealthy elite.  Materialistic ideology and system which ignores the growing income insecurity of non-owning workers facing displacement by technology or lower-paid workers.

3.  It is an economic system where the means of production are owned by private individuals. The economic companies exist to make money. A capitalistic system is also called “freemarket economy” or “free Enterprise”.

4.  People are rewarded based on their work.  Only those with money can make more money.

5. SOCIALISM  Socialism is an economic system.  Materialistic ideology and system based on and fostering the absolute dependency of all citizens on the state for their income security and well- being.  Capital ownership concentrated in a collective controlled by a bureaucratic elite.

6.  It is an economic system where the means of production is owned by the state or public. Everyone works for wealth that is, in turn, distributed to everyone. Everyone works for their own good and the good of everyone else. The government decides how wealth is distributed among people.

7.  Everyone is given a chance to succeed.  It may promote laziness.

8. Group Members:  Lucas Ribaudo  Walter Araoz