Communism and Capitalism Review!(144 points) Capitalism Communism based on ideas of Karl Marx Capitalism – based on ideas of Karl Marx Communism – based on ideas of Karl Marx Entrepreneurs are able to start businesses Capitalism – Entrepreneurs are able to start businesses Communism – Entrepreneurs are able to start businesses based on ideas of Adam Smith Capitalism – based on ideas of Adam Smith Communism – based on ideas of Adam Smith United States during the Cold War Capitalism – United States during the Cold War Communism – United States during the Cold War all property controlled by government Capitalism – all property controlled by government Communism – all property controlled by government individuals can own private property Capitalism – individuals can own private property Communism – individuals can own private property the Soviet Union during the Cold War Capitalism – the Soviet Union during the Cold War Communism – the Soviet Union during the Cold War competition motivates success Capitalism – competition motivates success Communism – competition motivates success collective goals drive innovation and success in the economy Capitalism – collective goals drive innovation and success in the economy Communism – collective goals drive innovation and success in the economy less individual freedoms within society Capitalism – less individual freedoms within society Communism – less individual freedoms within society more individu
al freedoms within society Capitalism – more individual freedoms within society Communism – more individual freedoms within society wealth distributed unequally Capitalism – wealth distributed unequally Communism – wealth distributed equally class struggle and exploitation of the working class Capitalism – class struggle and exploitation of the working class Communism – class struggle and exploitation of the working class profit motive drives economic decisions Capitalism – profit motive drives economic decisions Communism – profit motive is not a driving factor in economic decisions market economy Capitalism – market economy Communism – command economy private ownership of businesses and industries Capitalism – private ownership of businesses and industries Communism – government ownership of businesses and industries overall, capitalism promotes economic growth and prosperity Communism – overall, capitalism promotes economic growth and prosperity
