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Is capitalism the charging of interest on money that is loaned?
Those are two different things. Interest on loans is one small detail of the overall economy. Capitalism is a general theory about how society and money interact.
Communism and capitalism are what?
Communism: a classless stateless society based on production for use and democratic control. No money, no poverty, no millionaires. Capitalism: a society where a tiny minority own the means of production and the vast majority have to work for a wage. Poverty, inequality, exploitation, war, environmental destruction.
Are you meant to have the technology of today?
Given the society we live in today is based on Capitalism, anyone who has the money to purchase technology today is meant to have it.
Why would capitalism have difficulty functioning in a society that does not assure these rights for its citizens?
Capitalism will have difficulty functioning in a society that does not assure these rights for its citizens because of the less population in a country.
What is the difference between welfarism and socialism?
Socialism is a classless stateless society based on production for use, with no money or rulers. Welfarism means capitalism with a welfare state, intended to remove some of the worst features of a society based on inequality and exploitation.
What are the importance of capitalism?
Capitalism is a system where money talks. You will purchase goods and services from a business and work to earn that money to make the system work.
What is the opposite to capitalism?
A society with none of the hallmarks of capitalism, i.e. classes, wages, production for sale, government, armies. So Communism, a classless stateless society based on production for use.
How does United States make their money?
Capitalism.
How do you support an economic system?
with money, capitalism
Did capitalism develop from communism?
No. The opposite happened. Karl Marx's critique of capitalism was what started communism.
What are the 5 stages of society?
The five stages of society proposed by sociologist Gerhard Lenski are: hunting and gathering societies, horticultural and pastoral societies, agrarian societies, industrial societies, and post-industrial societies. These stages represent the progression of human societies in terms of technological advancements and social organization.
What type of economic system did Adam smith promote?
Marx was opposed to capitalism, and wanted it replaced by a classless Socialist society.
