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Capitalism vs. Communism

Capitalism vs. Communism. Free Market Economy (Capitalism). Command Economy (Communism). Thomas Hobbs. Karl Marx. Philosopher(s). Hands off, faith in the market, competition leads to improvements. Class struggle, haves and have not’s, Gov’t Regulation. Ideas. Who determines Price?.

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Capitalism vs. Communism

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  1. Capitalism vs. Communism Free Market Economy (Capitalism) Command Economy (Communism) Thomas Hobbs Karl Marx Philosopher(s) Hands off, faith in the market, competition leads to improvements Class struggle, haves and have not’s, Gov’t Regulation. Ideas Who determines Price? People Government Who determines Supply? People Government Government Who determines Demand? People

  2. Capitalism vs. Communism Free Market Economy (Capitalism) Command Economy (Communism) People Government Who determines Wages rewarded Discouraged Views on private property? Views on competition? encouraged Discouraged Gov’t influence on the economy? Hands on Limited valued Regulation over choice Views on Freedom incentives People lack incentives Inventions/improve

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