Communism, Socialism, and Related Theories Flashcards
What is communism?
A system advocating collective ownership of resources and the elimination of class distinctions.
Define socialism.
A system where key industries and resources are owned or regulated by the state for social welfare.
What is a key similarity between communism and socialism?
Both aim to reduce inequality and prioritize collective welfare over individual profit.
Name one difference between socialism and communism.
Socialism allows for some private property, while communism advocates complete collective ownership.
How does Marxism relate to socialism?
Marxism views socialism as a transitional phase between capitalism and communism.
In practice, how do communism and socialism differ?
Socialism often coexists with democratic systems, while communism seeks a stateless, classless society.
Name one country historically associated with socialism.
Sweden, known for its strong social welfare programs.
What is the primary economic goal of communism?
To achieve full equality by abolishing private ownership of production.
How did Marx view the transition from capitalism to socialism?
Through revolution, led by the proletariat overthrowing the bourgeoisie.
What is the 80/20 rule observed by Vilfredo Pareto in relation to inequality?
20% of the population controls 80% of wealth, illustrating persistent inequality under various systems.
