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Capitalism - Coggle Diagram
Capitalism
Competitive capitalism
State market should be the base for all economic activity
The government should defend foreign forces and domestic order
Free competition
Social benefits
Utilitarian benefits
Laissez-faire
Liberarism
Political, Social,Economical
Individualistic capitalism
Absence of restrictions
Individualism
Individual rights
Philosophers who promoted
Adam Smith
John Locke
Karl Marx
Value derived from labour
Labour must be paid fully and compensated fully
Issue
advancement of technology
Replacement of labour
Government owned production process
Minority needs and production process
New deal capitalism
No central planning
Democratic planning
Increase control but not ownsership
US capitalism home line
Post civil war
Open Laissez-faire
Individual choice
Private individuals or businesses own capital goods
Production is based on supply and demand