Government owns/controls all land, labor,
resources
 All decisions economically centrally
controlled and made by government
 Socialism- democratic means of distributing
wealth/political equity-Centrally planned
 Communism-All economic power
/decisions made through authoritarian
means. –Command economy- dictatorshipfew freedoms for people
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Karl Marx /Fredrich Engles/Vladimir Lenin
 Believed in socialism and advocated
violent revolution to bring about change
 Felt industrialized nations were divided
by social classes based on wealth
 Marx believed capitalist never allowed
wages to rise above the minimum
standard for the workers to live on
 Marx saw this a “class struggle”
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Bourgeoisie- wealthy capitalists, anyone with
wealth
Proletariat- workers and laborers
Worldwide revolution by workers is the belief of
communism
A dictatorship would ensue for a short period to
set up society
Eventually all government would cease to exist
All land, labor, products, etc,, would be equally
owned and distributed to all in society.
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Command Economy- Government 5yr
plans
Agriculture- collective farms/quotas/
Millions died as result
Industry-heavy industry/military
goods/$$$$$
Little to no consumer goods
Quality and selection poor/ shortages
Economy and people run into the ground