The ideologies of capitalism and communism Flashcards
1
Q
What is Capitalism?
A
Private ownership of resources
Individual economic freedom and market freedom
Competition and financial reward as motivation
Multi-party democracies
Freedom of Speech
Hierarchy in societies based on wealth and status
2
Q
What is Communism?
A
State control resources
State direction and economic control
Patriotism, belief in the collective good or force used to motivate people
single-party control
Control of media and opinions
All member in society in theory are equal
