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Understanding 20th Century Economic and Political "Isms"

The 20th century witnessed the rise of various economic and political systems, often referred to as "isms." Industrialism marked the shift to machine-based production, while capitalism embraced private ownership and competition. In contrast, socialism advocated for government control and wealth distribution. Communism, exemplified by the former Soviet Union, involved a one-party state and collective ownership. Totalitarianism, seen in Nazi Germany and the USSR, emphasized complete governmental control over citizens. These "isms" shaped global events and ideologies throughout the century.

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Understanding 20th Century Economic and Political "Isms"

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  1. 20th Century “Isms”

  2. Industrialism • Economic/political system in which the large scale production of goods is by machines rather than by hand

  3. Capitalism • Economic system based on private ownership operated for profit under competitive conditions • (United States)

  4. Socialism • Economic/political system based on government ownership of business and property and on equal distribution of wealth • (In Orwell’s time, Britain and much of Europe practiced a mixture of socialism and capitalism)

  5. Communism • Economic/political system based on one-party government and state ownership of property • (the former Soviet Union)

  6. Totalitarianism • A political system in which the government exercises complete control over its citizens • (Nazi Germany, The former Soviet Union)

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