Socialism - Economy

Question 1

how do socialist disagree about the economy?

Answer 1

Disagree on attitudes towards capitalism

Question 2

what does Rosa Luxembourg think about the capitalist market?

Answer 2

critics the capitalist market n her book ‘the accumulation of capital’

Question 3

what did Rosa Luxembourg thin would happen to the capitalist market?

Answer 3

• market cannot absorb the surplus generated and eventually capitalism will runout of territories for the free market to exploit - so the system would collapse
• due to belief that capitalism must be removed

Question 4

what kind of economy did Anthony Crossland argue for?

Answer 4

• advocates a mixed economy

- Keynesian economics would help to maintain high employment and promote economic growth

Question 5

what did Anthony Crossland think about capitalism?

Answer 5

• some capitalism not too bad for society

- capitalism helped living standard’s

Question 6

what do marxists think about capitalism?

Answer 6

Capitalism must be abolished

Question 7

why do marxist think capitalism needs to be abolished?

Answer 7

• based on exploitation of proletariat
• Bourgeoisie use it as a way of maintaining primacy
• only by seizing means of production can this class oppression be removed

Question 8

how would Marxists get rid of capitalism?

Answer 8

• via a class revolution
• replaced with classless communism
• ensures equality of outcome

Question 9

what do social dems think about the free market?

Answer 9

accept a level of a free market

Question 10

what do social dems advocate for the economy?

Answer 10

• advocate a mixed economy of nationalised key industries and some private enterprise
• would regulate and tame capitalism
• don’t believe in its complete removal

Question 11

what do 3rd way accept about capitalism?

Answer 11

accept primacy of free market capitalism

Question 12

what do 3rd way think about capitalism?

Answer 12

• most efficient system of production
• economic growth benefits for all
• encourages personal qualities e.g. responsibility

Question 13

what do most socialists agree on about the economy?

Answer 13

some form os stat intervention

Question 14

why do most socialist agree on some state intervention in the economy?

Answer 14

• believe profit from free market capitalism doesn’t allocate wealth and resources fairly
• based on socialist belief of equality

Question 15

what do marxists think about state intervention?

Answer 15

whilst they want current state to be abolished due to fact it is agent of capitalism, they don’t disagree with intervention of new state

Question 16

what would marxists replace capitalism with?

Answer 16

• centrally applied economy based on common ownership of means of production
• would benefit everyone
• links to collectivism

Question 17

what do social dems think about state intervention in economy ?

Answer 17

• do it via Keynesian techniques to regulate capitalism and to maintain employment
• more limited form of welfare state and distribution to help those in need

Question 18

how do socialists disagree on state intervention?

Answer 18

• marxists argue for far greater extent than social dems

- common ownership vs welfare and redistribution

Question 19

what do third way reject about state intervention?

Answer 19

• reject top down state intervention
• discourages investment and entrepreneurial ideas
• economy will suffer

Question 20

what did Anthony Giddens argue?

Answer 20

• rejection of state intervention

- argued that top down state intervention in the economy was inefficient