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Economic Systems, Communism - Coggle Diagram
Economic Systems
- Definition: People and companies own businesses and try to make money
- Encourages hard work and new ideas
- People choose what to buy and sell
- Can make rich richer and poor poorer
- Some workers may be treated unfairly
- Images: Money, stores, business people, stock market
Pictures
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The rich people only give the money to charity to look good to another people not because they care about the poor people
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The picture shows a very rich big man in a chef's hat who is cooking the world for his meal while a huge crowd of thin poor people stands in the dark holding out empty bowls.
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- Definition: Government and people share control of big industries
- Smaller gap between rich and poor
- Free or cheap health and education
- People may work less hard
- Government can be slow or wasteful
- Images: Hospital, school, community center
The photo shows Demorctic socialists of America protesting to support a system that shares power and wealth for everyone
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three famous thinkers Marx Kautsky and Lenin who had different ideas Marx gave the first idea but Kautsky
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Socialism is a system where workers and the public own and share control of major resources, like making more profit
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Marxism
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Pictures
Workers are carrying heavy metal bars on a building site, which means their hard work makes money for the owners.
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The picture means that rich people get paid a lot of money and respect while the worker gets paid very little for his job.
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This is a picture of Karl Marx the founder of Marxism whose ideas are about workers and rich owners.
- Britannica (2024). Economic Systems
- Investopedia (2024). Capitalism, Socialism, Communism
- Study.com (2024). Economic Systems
Communism
Pictures
Both socialism and communism aim for a society where people share ownership of businesses to get rid of rich owners and poor workers.
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Communism is an idea for a society where no one is boss and everyone shares everything, so there are no rich people and no poor people.
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Tariq Ali says Communism failed because of no freedom, but a new socialism is still needed to save the planet from capitalism.
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- No poverty or unemployment (in theory)
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- No freedom to own property or pick work
- Less innovation and progress
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- Definition: All property and work are shared by everyone
- Images: Red flag, farms, factories, workers
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