Competing Economic Systems

• Communism

• Socialism

• Fascism

• Capitalism

CommunismCountry Used As Example

• Soviet Union (USSR) (Russia)

CommunismOwner of the Means of Production

• Government– As the voice of the people

CommunismGovernment Role in the System

• Government – Owns, distributes, plans, allocates

CommunismRole of Individual in System

• Works for the benefit of the whole society

CommunismAssumptions About Political System

• More important:– Equality– Economic security

• Less important– Voting– Freedom of expression– Personal freedom

CommunismDefinition of “Human Rights”

• Right to eat, to survive, to be seen as an equal

SocialismCountry Used as Example

• Britain (England) (U.K.)

SocialismOwner of Means of Production

• Government owns much– Especially the big industries

• Individuals own some– Especially smaller businesses

SocialismRole of Government

• Owns & Controls some of economy

• Regulates other parts heavily

SocialismRole of Individual

• Some room for personal profit

• But also has obligation to work for good of society

SocialismAssumptions About Political System

• More personal freedom than in Communism, less than in Capitalism

• Less emphasis on economic security than in Communism, more than in Capitalism

SocialismDefinition of “Human Rights”

• Involves both right to eat, survive, be secure with rights to vote, and have personal freedom

FascismCountry Used as Example

• Germany and Italy

FascismOwner of Means of Production

• Individuals own & get the profit

FascismGovernment Role in System

• Ultimate decision maker in all affairs

• Ultimate decider of allocation of resources

FascismRole of Individual in System

• Profit

•OBEY!!!

FascismAssumptions About Political System

• Individual rights not important

• Government to have total control– Usually a police state

FascismDefinition of “Human Rights”

• “Human rights” not very important

• Strength of the nation is the overall goal

CapitalismCountry Used as Example

• The United States

CapitalismOwner of the Means of Production

• Mostly individuals

CapitalismRole of Government in System

• Largely stays out (“laissez-faire”)

• Possibly some regulation

CapitalismRole of Individual in System

• Mostly to pursue individual interests and profit

CapitalismAssumptions About Political System

• Less important:– Equality– Economic security

• More important– Voting– Freedom of expression– Personal freedom

CapitalismDefinition of “Human Rights”

• Defined as the right of an individual to do more or less what s/he wishes to do

• Freedom of choice, expression, voting, etc.