CAPITALISM VS COMMUNISM Contents 1.Capitalism a. What is capitalism? b. Historical development of capitalism c. Features of capitalism d. Merits of capitalism e. Demerits of capitalism 2.Communism a. What is communism? b. Historical background of communism c. Principels of communism d. Advantages of communism e. Disadvantages of communism 3.Comparision of capitalism and communism 4.Conclusion CAPITALISM a. What is capitalism?
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better economic standing. On the contrary‚ communism‚ a theory or system of social organization based on the holding of all property in common‚ that aims for a classless and stateless society structured upon common ownership of the means of production‚ free
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CAPITALISM |COMMUNISM | | |Definition: *An economic system based on the private ownership of |Definition: *A social‚ political and economic ideology that tends | |the means of production (technology‚ transport‚ and banking). |to establish a society essentially based on the private ownership of| | |the means of production. | |
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Capitalism and communism are two economic systems that shape the way a nation produces and distributes goods and services.Capitalism relies on competition and private property to gain money. In communism‚ everything is owned by the state‚ and private property is non existent. Capitalism was conceptualised in Europe by a man named John Locke. Communism was created by Karl Marx in England and he believed a violent working class revolution would over through the government and communism would reign
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The Ongoing Struggle Between Capitalism and Communism The first ever use of the phrase “command economy” was to describe that of the Nazi economic system. Though‚ the first successful communist system‚ or “command economy” was that of the Soviet Union (1922-1991). The Soviet Union’s way of dividing pay equally among all working citizens began to butt heads with the U.S.’s capitalistic‚ market system. Immediately after the end of World War II came the start of the Cold War. The United States‚ was
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Communism and capitalism are two forms of government that are vastly different but used by many nations. The United States and the former Soviet Union were ran by two economic systems that were on two different sides of the spectrum because of how vastly different they were. The Soviet Union used a political system that would allow government to control everything‚ including the means of production‚ where people were allowed to live‚ and even what career people were allowed to go into to. Communism
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Trumbo had also successfully paved the way for an end to the red scare and an end to anti-communism in the United States. After the end of the Second World War in 1945 another war emerged‚ this war was the cold war. The cold war was a power struggle between Communism and Capitalism. Capitalist Americans were terrified of communists and the chance of being hurled into a nuclear war. The American fear of communism‚ “the red scare”‚ caused many citizens to become paranoid. This paranoia lead many Americans
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world witnessed the confrontation of two political‚ social‚ and economic ideologies: capitalism and communism. Capitalism appeared when Scottish economist Adam Smith published "The Wealth of Nations" during the late 1700’s. Almost a century later‚ as a reaction to capitalism‚ Karl Marx published "The Communist Manifesto"; a book that harshly criticized capitalism and predicted its fall. Capitalism and communism are two extremely different systems. They mainly differ by their economic and social
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out‚ Communism and Capitalism. While Capitalism is more of an economic principle‚ Communism stands as more of a system for governance of a nation as a whole. Communism’s socioeconomic structure is what allows for a comparison of the two to be drawn. Communism relies on an economic factor of Socialism‚ which is the spread of wealth‚ production‚ and means of production equally by the government. Capitalism is an economic belief allowing the privatization of production and its means. Capitalism allows
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Both communism and capitalism are political ideologies. While communism is “a system of social organisation in which all property is owned by the community and each person contributes and receives according to their ability and needs”‚ capitalism is “an economic and political system in which a country’s trade and industry are controlled by private owners for profit” as stated by oxforddictionaries.com. Some similarities between communism and capitalism are that both emerged after the fall of feudalism
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