Karl Marx and Friedrich Engels developed the economic theory of communism. According to the excerpt below, what are key aspects of communism?
Friedrich Engels, Principles of Communism
"Above all, (the government)… will have to take the control of industry and of all branches of production out of the hands of… competing individuals, and instead institute a system as whole, that is for the common account, according to a common plan, and with the participation of all members of society. It will…abolish competition… Private property must therefore be abolished."
Question 13 options:
a)
Government takes a hands-off approach to the economy, and they share property with everyone so that no one is homeless.
b)
Government owns small businesses and only at time of war will they take control of all businesses.
c)
Government takes control of all businesses to get rid of competition (like capitalism).
d)
Government takes control of property so they can sell it to the highest bidders.