0
According to pure Marxist theory this is an impossible condition. Capitalism sets up the conditions for Communism, then Communism totally and completely automatically replaces Capitalism at the right historical time. This is a totally deterministic and inevitable transition that cannot be avoided anywhere in the world, according to Marx.
Wiki User
∙ 13y ago
Wiki User
∙ 11y agoMixed economy. In practice, most mixed economies are capitalist economies with government regulations and interventionism in markets.
No true mixed economy with half-socialism (socially-owned enterprise and collective-management) and half-capitalism (privately-owned enterprise and hierarchical management) exist.
Add your answer:
Earn +20 pts
Is the US's economic system true capitalism?
No the US has a mixed economy with both socialism and capitalism traits. We have a free market like in capitalism however we also have social security and medicare as well as now universal health care which are all socialism traits. Not all capitalism is good and all socialism isnt all that great either. You want a good mix of both.
How is socialism similar to capitalism?
Both are modes of production, but other than that they have nothing in common. Socialism has no classes, no money, no wages system, production form use, no government.
An economy that exhibits elements of both capitalism and socialism?
None, as capitalism (classes, production for profit) and Socialism (no classes, production for use) are incompatible.
Labels as communism capitalism and socialism are?
they are used to represent both political and economic ideas
Does capitalism engage in centralized planning whereas socialism does not?
There are many types of capitalism and socialism. Types of capitalism which engage in central planning include state-capitalism, or corporate capitalism. Types of socialism which engage in central planning include communism, and state socialism. Types of capitalism which do not engage in central planning include laissez faire capitalism, american libertarianism, or anarcho-capitalism. Types of socialism which do not engage in central planning include mutualism, and libertarian socialism. Of course, all institutions involve some degree of central planning, ie a corporation, a collectively run factory, or a family.
The economic system which combines both capitalism and socialism is called a Blank system?
A mixed economy or 'socialised capitalism' which is in varying uses in Europe, with countries like the UK being on the 'freer market' end and countries like Denmark being on the other end.
What are the similarities between socialism and capitalism?
Socialism and communism are similar in the way they are supposed to work - all power being shared equally - and capitalism is similar to socialism in that everybody should ideally get out what they put in proportionally, but communism and capitalism are the exact opposites.
Label such as capitalism communism and socialism?
they are used to represent both political and economic ideas --Shelby :)
Why are capitalism communism and socialism often misunderstood?
They represent ideas about both political and economic systems.
12 letters word an economy that exhibits elements of both capitalism and socialism?
mixed economy
How is socialism similar to compitalism?
Both socialism and capitalism involve economic systems where goods and services are produced and distributed, but they differ in terms of ownership and distribution of resources. In socialism, the means of production are owned and controlled by the state or the community, whereas in capitalism, they are owned by individuals or private companies. Additionally, both systems aim to improve the living standards of their citizens, but they have different approaches to achieving this goal.
Does the Islamic economic system tend to capitalism or socialism?
Both, Islam economic system is a combination of capitalism and socialism. The Islamic economic system allows capitalism. However, per Islam religion, the poor and needy people are fully taken care of by ruling system. Moreover, Islam implies that Muslims pay annually certain percentage of the money that they have in excess of a minimum limit. This money is dedicated to the poor and needy people. The rich are encouraged, per Islam religion, to give charities and support the poor.
