CAPITALISM, SOCIALISM, AND COMMUNISM

CAPITALISM: WHAT IS IT?

• A counties trade is controlled privately for profit
• The state doesn't controll trade/industry
• Minimal government involvement

The United States
The United States is an example of a capitalist country. We do not support a lot of government involvement in our trade and industry. Adam Smith started the idea of Capitalism

DEPARTMENTS THAT SUPPORT CAPITALISM

• Department of Labor
• Federal bank reserve
• US Securities and Exchange Comission
• Free Trade with Mexico and Canada

SOCIALISM

EXAMPLES OF SOCIALIST COUNTRIES

• Canada-offers free health care, low taxes etc.
• Venezuela-extensive social programs
• In 1908, a Socialist party was established in the USA
• However, it was disbanded in 2008

COMMUNISM

WHAT IS COMMUNISM?

• Property is owned publically
• Each person is paid based on their abilities
• Ownership is ascribed to the community as a whole.
• Karl Marx and Fredrich Engels started this concept
• They wrote the Communist Manifesto

EXAMPLES OF COMMUNIST COUNTIRES

• China-ruled by Den Xiaoping
• Cuba-was ruled for many years by Fidel Castro
• In 1958,the Great Leap Forward cleanized
• China of any free enterprise.

SOURCE(S)

• http://www.timetoast.com/timelines/capitalism-socialism-communism
• http://dictionary.reference.com