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Do capitalism and communism have similar views on the ownership of a business and its resources?
Wiki User
∙ 12y ago
No, capitalism and communism have very distinct views about the allocation of resources in a society. Capitalism supports private ownership with the profit motive, deriving additional expansion by accumulating more capital from continual investment. Communism supports social ownership of social resources for the benefit of society, not for profit.
Wiki User
∙ 12y ago
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What is a kid friendly definition of capitalism?
Basically an economic system where anyone can start their own business for their own profit. As compared to communism where the state tells you what your job will be. Capitalism is an economic system whereby the government favours individual business achievement over social policy.
True or false a mixed economy is one that has no government control of business?
False. A mixed economy is a mixture of socialism and capitalism. So there is some government control over business, and some private ownership.
An economic system where all business is controlled by people who share equally in the profits is called?
Libertarian Socialism is the economic system based on equal collective ownership of property. It includes Social anarchism and libertarian Marxism.
What is the economic system in which most economic activity occurs in the private sector where business is conducted by individuals or organizations in order to make a profit?
capitalism
An economic condition where government does not regulate or interfere with business'?
Capitalism
Private ownership of business is a characteristic of?
capitalism
How did Mao transform business in China?
He destroyed capitalism and instigated communism.
Is socialism gives the government more control than communism true?
False, communism when actually employed in government is much more controlling than standard socialism. Communism is an extreme version of socialism. Under communism, private ownership, private property & business ownership is forbidden. Fascism is a less extreme version of socialism. Under Fascism, business & property ownership is allowed but controlled & directed by the government.
Why is the transition from communism to capitalism difficult?
The transition from communism to capitalism is difficult due to challenges such as restructuring the economy, establishing private property rights, and developing market-oriented institutions. Additionally, there is often resistance from those who benefitted under the communist system and concerns about inequality and social unrest during the transition period. Transitioning requires significant time, effort, and resources to navigate these complexities successfully.
What is a kid friendly definition of capitalism?
Basically an economic system where anyone can start their own business for their own profit. As compared to communism where the state tells you what your job will be. Capitalism is an economic system whereby the government favours individual business achievement over social policy.
Did Mussolini support government ownership of property?
first answer: No, Mussolini and fascism did not support government ownership of property. He encouraged private ownership. second improved answer: Fascism & communism are both socialist political & economic movements. Private property ownership is one of the major differences between fascism & communism. However, in fascism the government controls the usage of property, land, & private businesses. Fascism perverts & corrupts capitalism, such that economic & political freedom is lost. The Fascist government can decide to seize the assets of any person or business, solely on the orders of key fascist leaders. One of the ways that Hitler & Mussolini received public support from their people was to promise to resist communism (which would have seized all private property). However, Hitler & Mussolini would have eventually gravitated towards the seizure or control of all property. As you can see, communism & fascism are vey similar, with communism being the most extreme form of socialism.
What has the author Tom Burden written?
Tom Burden has written: 'Capitalism and public policy in the UK' -- subject(s): Capitalism, Communism, Economic policy 'Business in Society' -- subject(s): Business, Industries, Social aspects of Industries 'Social Policy and Welfare' 'Developing independent learning'
True or false a mixed economy is one that has no government control of business?
False. A mixed economy is a mixture of socialism and capitalism. So there is some government control over business, and some private ownership.
What mostly privatly-owned economy falls between laissez-faire capitalism and a mixed system?
The system that would fit this description the most is socialism. While much of the ownership of business is regulated, ownership is still through small groups.
What are the similarities between socialism and democracy?
All three are economic systems, or modes of production. More broadly they can be described as socioeconomic systems, although the term "Communism" with a big C has been used to refer to countries run by Communist parties in the 20th century and thus to a form of government rather than an economic system. Ownership: Capitalism is based on private ownership, Socialism on co-operative ownership, and Communism on common ownership (or open-access, i.e; non-ownership and is thus more distinct than the other two). Socialism is based on the principle of "to each according to his contribution", whereas capitalism is also nominally based on that principle along with the idea that one should be rewarded based on how much capital one holds. Communism is more radically different from socialism and capitalism by being based on "to each according to his need", which basically means free-access in a hypothetical post-scarcity economy. Capitalism is based on markets, money (value), and the state. Socialism might be based on markets or planning, replaces money (value) with labour credits or another measure of value, and retains the state. In contrast, Communism is a post-market, moneyless, stateless and classless hypothetical society. Socialism and capitalism are a lot more similar to each other than either are to Communism because communism is postulated on a hypothetical economic state of post-scarcity.
Who said capitalism tends toward communism and communism tends toward capitalism?
Look at Tesco in Europe - They are now building a whole village. Look at Samsung - They build and control Samsung City. Look at the quality of products available as supermarket competition is reduced to just a few chains. Look at the Big 4 and their encouragement of M&A and how they look down their noses at people who have what they call a "life style business", ones that actually strive for old style quality. Communism tends to capitalism but the vice versa is not true.China which followed Maoist communism has been following a policy of liberalization since 1971.The erstwhile soviet could not continue with it's military expansion and the condition of the people was despicable.It too, is now into a more capitalistic regime.The democratically elected communist governed states in India are only Communist by name, but their policies all tend towards the capitalist side. Communism should be implemented in the infant stages of a country to eradicate poverty,and then move on to capitalism to encourage development.Both ideals demand a social responsibility.With communism,the people need to be responsible.With Capitalism,only the industrialists need to. Which is what makes communism a much more difficult ideal to follow. Capitalism does not tend towards communism at any point of time.The stress these days is on neo-capitalism which increases the per capita income of every individual, as opposed to Laissez-faire which made the rich-richer and the poor-poorer.
What is the definition of free market economyor capitalism?
A free market economy is where prices are determined by supply and demand. Prices are not set by the government or other agency. Capitalism is where the person can decide what job to do, and who to work for. A person may also decide to open their own business. The typical opposite of capitalism is communism where the government decides all these things for the people.
