...Communism vs. Socialism The Industrial Revolution transformed our lives economically and socially. It changed the way people live and the societies we live in. These changes were made by the economic systems such as capitalism, communism, socialism, utopianism, and feudalism. Communism was an economic system where a country’s farms, factories, and businesses were totally owned and controlled by the government. Socialism was an economic system where there was public ownership of basic industries. Communism was the most beneficial for society because this economic system proved benefit for all the people and made money become a thing from the past, but on the other hand, socialism was valuable to society because was an economic system of social organization in which production, distribution, and exchange was owned by a country as a whole....
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...The Rise of Socialism and Communism: Marxism “The classes and the races, too weak to master the new conditions of life, must give way. They must, perish in the revolutionary holocaust” (Karl Marx). Marxism was created in the mid-1800s by two German philosophers named Karl Marx and Friedrich Engels. Since the beginning of the 21st century Marxism has been making a comeback due to Marxism-Leninism in Asia and Eastern Europe, different morals of the upcoming generation, and due to the fact that it is one of the key components of the Communist style government that is being introduced around the world. Marxism-Leninism was created together in 1929, which was 5 years after Lenin’s death, by Joseph Stalin. Many communist parties today imagine it...
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...government. I know, at times, we feel that America is truly run from the government and we have no choice; but, compared to other countries, America has a lot of freedom when it comes to the rights of the individuals. The economic system that the United States uses is capitalism. Capitalism is the economic system that is also known as the free market system, and is based off on private ownership, economic freedom, and fair competition. Other countries, however, use socialism as their economic system. Socialism is based on the principle that the government should operate some of the key enterprises that affect the welfare of the public. Finally, some countries choose to use communism as their economic system. Communism is based off of the principle that the government should operate and direct almost all enterprises. Clearly, these three economic systems are very different in the way that they operate. In this paper, I am going to compare and contrast the three types of economic systems: capitalism, socialism, and communism. Capitalism, also known as the free market system, is the economic system used by the United States. Because of capitalism, we have what are called fundamental rights. Fundamental rights are rights that the people have because of living in a capitalist economy. Capitalism gives the right to own a business and to keep the profits that are earned after taxes have been taken out. This means that if you earn money from a business, you get to keep it after you are...
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...Microeconomics Paper: Economic systems Yang Cong Professor Memmos Aug 1st, 2012 Table of Contents 1, Introduction of economic systems 2, the analysis of capitalism 3, Example of capitalism: the U.S. 4, the analysis of socialism 5, Example of socialism: China 6, the analysis of communism 7, Example of communism: North Korea 8, my favorite one is socialism 9, Conclusion There are three main economic systems in the world which are capitalism, socialism and communism. Nowadays, most developed countries are capitalism and they have certified that capitalism is better; the greatest developing country which owns the second high GDP in the world, China, is socialism, it seems that socialism is not bad; only a few countries are still communism like North Korea which has a low economic increment speed. Different systems have their own advantages and disadvantages, so it is necessary for the government to figure out which one is suitable for their countries. “Capitalism is an economic system that is based on private ownership of the means of production and the creation of goods or services for profit. Competitive markets, wage labor, capital accumulation, voluntary exchange, and personal finance are also considered capitalistic (Wikipedia).” Capitalism can greatly promote economic development, this is the main feature of capitalism. The necessary material of human is produced by human labor, the purpose of economic activity is to save labor time which is also the greatest...
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...quality of goods. 4. Different varieties of product. 5. Consumer’s choice given full priority. Disadvantages of Capitalism: 1. Inequality in the distribution of national wealth. 2. Talent wastes 3. Level of employment fluctuations 4. Class conflicts 5. Heavy expenses on publicity result into increase in cost and price of the commodity. Communism: Communism refers to a political system that stresses the primacy of collective goals over individual goals. Characteristics of Communism: • Needs of the society are viewed as a whole than individual freedom. • State-owned enterprises are managed to benefit society as a whole, rather than individual capitalists. For Example Cuba, Vietnam, China (market based economic reforms). • In communism personal belongings, like shoe, watches and clothes are allowed to be owned by individuals and houses are owned by the states. Advantages and Disadvantages of Communism: Advantages of Communism: 1. Following are the merits of communism 2. Full employment of manpower 3. Careful life 4. Equitable distribution of wealth 5. Economic growth and rapid development Disadvantages of Communism: 1. No sympathy for workers. They are treated as machines 2. No time for personal space. 3. Central state authority holds all means of...
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...Socialism is an economic system that is associated with multiple other economic systems. This system is a range of both economic and political systems based on the idea that wealth should be equally distributed throughout society. Socialism favors ideas that the government should own and control resources instead of the people. "Socialism" is a vague term used to disguise political and economic beliefs, Such as production and distribution of goods are managed by the government rather than by private enterprises or businesses not owned by the government . This way of thinking was easily rejected by the socialists. The socialists disagreed on how much was tolerable under this unlawful idea. Socialism and communism are two closely related economic systems, both...
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...be deduced that Marx was a process philosopher. Marx's views in regards to economics believed that communism was the ultimate society in which the government should adopt. Communism means that all is shared in common, all is shared. In general everyone should work in common. Which can be clearly related to the view of socialism, common ownership, which was Marx's transition point from capitalism to communism. Marx believed that this process was inevitable and inexorable (Martin 2006). The U.S. is currently in a socialistic state. Todays government seeks to take power of the production of all goods in the economy, socialism. It can be evident in the states that the U.S. government is seeking to have control of the economy. The thought of big brother ruling everyone. Socialism can be seen on what I believe are many levels. A few specific topics are war, Congressional health care act, Medicare, and...
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...M2: Complete Communism as the Negation of the Negation (EPM 102; 113-114) Commentary Throughout his Economic and Philosophical Manuscripts of 1844, Karl Marx makes a strong argument for communism as a means for human kind to realize its true nature and essence. In short: communism is what is “right” for mankind, through the annulment of private property, as the genuine resolution of conflict between man and nature, and between man and man. Under the existing socioeconomic structure, our natural urges and desires are despised as we are forced to conform to a set means of living in order to financially be sustainable. Through this capitalist process, we are forced to reject our own bodies as the frailties of flesh. According to Marx, this...
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...‘Ideologies have become irrelevant to the discussion of politics since the collapse of the communism in East Europe.’(Fukuyama francis,1989) I disagree with this statement in a large extent. Overview Fukuyama published the idea of ‘end of ideology’, which became a controversial issue in 1989. No doubt, fascism and communism had both lost their appeal after the collapse of the communism in east Europe. In the postwar period, the three ideologies-liberalism, socialism and conservation –came to accept the common goal of capitalism. ( Lee, 1990) However, it does not mean that capitalism is a triumph of the world. Jacques mentions that there are many types of Marxism. For instance, orthodox Marxism is produced by the unique history tradition. Therefore, when one specific communism is collapsed, it does not mean that the communism is collapsed. In fact, there still are states that pursue other types of communism. People reflect and become interested in Marxist if capitalism cannot bring them into utopian era. There is no way to say that ideologies are becoming irrelevant to the discussion of politics. Also, All human are political thinkers. We all have difficult thoughts and diverse perceptions when the things happen around us. Modern ideologies such as feminism and ecologism are witnessed. From the observations and judgments, we can find out our own belief of what our world is and what we ought to be. ‘equality , ’rights’ ,’freedom’ ,’justice’ are the expression...
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...Communism, just the mention if the word brings fear to the heart. Thoughts of dictatorship, control, persecution, and socialism fill the mind. Communism ruled the eastern half of Europe for about seventy years. Westerners wondered what really was taking place in the region. The Iron Curtain separated the eastern half of the continent from the rest of the world. A war for power and control was taking place. Socialism was drilled into the inhabitants of the dictator controlled countries. But, in 1991 it was said to have fallen. The Soviet Union did fall, but communism has not completely faded away. It has a lasting impact on the people that lived through it. The first communist international organization was founded in about 1836 by a group of German workers. Communism, a branch of socialism, envisages a society where there is equality for all people. The equality is achieved by distributing equal wealth to all the members of the society; thus making everyone at par with the other. The father of communism Karl Marx and Friedrich Angels, changed the political sphere of the world. Some regarded communism as a Utopian idealism that can never be attained in a society while its proponents believed that it was the answer to all their miseries and sufferings. The communist supporters believed in declaring an open war on their opposition, and this is clear from the most popular last lines of the manifesto: "The Communists disdain to conceal their views and aims. They openly declare that...
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...In a way, communism is an extreme form of socialism. Many countries have dominant socialist political parties but very few are truly communist. In fact, most countries - including staunch capitalist bastions like the U.S. and U.K. - have government programs that borrow from socialist principles. "Socialism" is sometimes used interchangeably with "communism" but the two philosophies have some stark differences. Most notably, while communism is a political system, socialism is primarily an economic system that can exist in various forms under a wide range of political systems. Comparison chart | |Communism |Socialism | |Philosophy |From each according to his ability, to each according to |From each according to his ability, to each according to| | |his needs. Free-access to the articles of consumption is |his contribution. Emphasis on profit being distributed | | |made possible by advances in technology that allow for |among the society or workforce to complement individual | | |super-abundance. |wages/salaries. | |Economic System |The means of production are held in common, negating the |The means of production are owned by public enterprises | | |concept of ownership in...
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...Mohammad Kareem Conservatism: In Theory Communism would work and is the best way to form a government, but as this ideology was implemented in different countries and nations the reality has shown it might be very far from being perfect. This system of government as well as economy is also based on trying to create equality. Communism can be related to Socialism which creates equality by essentially sharing all profits and land with the community. Unlike socialism however,Communism believes that there is no need for a profit to be given to the worker or for land to be owned by any workers because it creates inequality and this must be done to ensure social order. A Lot of the communist ideology is totally opposite and against capitalist views. There is no competition in communism and wages and salaries are equal across all carers and work. In Communist theory, government leaders should only be temporary and used only to gear the population towards true order and then step down and let the work cycle continued. Many of the communist ideology is predominantly theory and is highly criticized by many nations. In today's day and age many countries have decided to opt out of the communist social structure because it is unpractical and does not provide true equality as theorized. Communism was a fairly modern ideology founded only about 120 years ago but has lingered throughout history. The majour man honoured with the creation of communism is Karl Marx who lived between 1818-1883 and...
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...Edexcel A2 Political Ideologies 3 Socialism A Short-answer questions 1 Why did Marx believe that capitalism was doomed to collapse? • Capitalism is doomed to collapse because of its own internal contradictions. • Capitalism embodies its own antithesis, the proletariat, seen by Marx as the ‘gravedigger’ of capitalism. • Capitalism is defined by the creation of profit. This is only possible by the exploitation of the proletariat — that is, by the extraction of surplus value from the workers by the bourgeoisie. • Marx believed that the inherent contradictions of capitalism would cause the proletariat to achieve revolutionary class consciousness. This would occur as capitalism went through a series of deepening crises, leading to the immiseration of the proletariat. This would inevitably result in a proletarian revolution which was destined to overthrow capitalism. 2 Distinguish between fundamentalist and revisionist socialism. • Fundamentalist socialism rejects capitalism entirely and seeks to abolish it. It usually attributes the flaws of capitalism to private property for private profit, and seeks to establish socialism in the form of common ownership and very substantial equality of outcome. The Marxist or communist tradition is the clearest example of fundamentalist socialism. However, some fundamentalists pursue their goals by the parliamentary road — i.e. it is possible to be ‘fundamentalist democrats’ in the parliamentary sense. Eurocommunists...
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...Karl Marx: A Man of Many Thoughts Karl Heinrich Marx was born into a wealthy in the Prussian Rhineland of Trier, Germany to Herschel Marx and Henrietta Pressburg. The German born philosopher, economist, historian, journalist and revolutionary socialist was born on May 5, 1818, later becoming a pioneer in the world of economics, focusing on the relationship between labor and capital(Wikipedia). Marx became interested in philosophy after studying the Young Hegelians at the University of Bonn and the University of Berlin (Wikipedia). Later he began associating with a few communist societies, where he would meet the person he would collaborate with from then on. Through his ever changing ideas and philosophies, Karl Marx has influenced Socialist as well as Communist, on his road to becoming one of history’s greatest minds. When Marx was developing as a young economist and historian much of his influence came from his connection he felt to Hegel and the Young Hegelians. Most of the Young Hegelians were instrumental in assisting Hegel by pushing him to further the most conservative implications of his work. Much of Marx’s significant advancements of this time of his life were the result of him trying to find his place in amongst Hegel and the other talented Young Hegelians like Ludwig Feuerbach, who thought to try and re-write the metaphysics Hegel and recently developed in the early 1840’s, critiquing Hegel’s doctrine of religion and the state, in the process. The works...
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...Capitalism vs Socialism. · Capitalism vs Communism. · Types Of Capitalism. · Advantages Of Capitalism. · Disadvantages Of Capitalism. · Criticism On Capitalism. CAPITALISM An economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth. It is easy to forget that capitalism was coined not so long ago, in the mid-19th century, when the Industrial Revolution was in full swing, and individual entrepreneurs were creating new industries and amassing wealth. Terms for the other two major competing economic systems of the past two centuries— socialism and communism—were also coined around the same time. Also, about the same time it became common to designate all such coinages as “isms”: terms formed by adding the suffix -ism to a root word in order to expand its meaning to encompass a related system, theory, or practice. Thus from a fairly old word, capital, the relatively newer word, capitalism, was formed to describe the then emerging economies of the West. On the surface, the meaning of capitalism seems straightforward, referring to an economic system in which private individuals, rather than governments, own property and businesses. But beneath the surface, strong currents of opinion and theory swirl about the term. Capitalism vs Socialism Capitalism ...
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