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Giattino - U5-5A

Unit 5 Section 5 - Socialism and Capitalism

Utopianism ideal society based on cooperation instead of competition. Utopia By Thomas More described an ideal society
Socialism The government owns the means of production and key infrastructiure
Communism Extreme form of socialism in which "all people" own the means of production. Produces a classless sociaety
Adam Smith Laissez faire capitalism, Wrote "Wealth of Nations"
KArl Marx's theory of Communism Economic Forces - the way goods are produced and distributed. Class Stuggle - has always existed between the "haves" and "have nots".
Created by: JImmyjet81