Ideological Differences - Communism and Capitalism Flashcards
1
Q
What is Communism?
A
Communism is an economic ideology that advocates for a classless society in which all property and wealth are communally owned instead of being owned by individuals.
2
Q
What is Capitalism?
A
an economic and political system in which a country’s trade and industry are controlled by private owners for profit.
3
Q
What are the main ideological differences between communism and capitalism?
A
In a capitalist state, the economy is largely free from state control, while the government is democratically elected and freedom of speech is cherished. In contrast, a communist state is administered from the centre, with control of the economy and society strictly in the hands of the Communist Party-led government.
