Communism

Capitalism

An economic & political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state

Lassiez Faire

Believed the free market would benefit everyone, not just the rich; no government regulation on exchange of goods and services

Socialism

A political & economic philosophy based on collective (or government) ownership of a society's resources/means of production; government provides services for people.

Communism

A political & economic system in which all property/wealth is collectively owned equally by all members of society; aims to create a classless society.

Charles Darwin

British scientist in the 1800s who came up with the idea of natural selection or 'survival of the fittest' after observing nature.

Social Darwinism

The idea that natural selection applied to human society, especially in warfare & economic competition; argued that industrial tycoons earned their success because they were 'more fit' than others.

Marxism

A workers revolution would bring a classless society where the means of production would be owned in common for the good of all; theorized economics were the driving force in history & the history of class struggles.

Spinning Jenny

A machine that spun thread faster.

Steam Engine

Improved and eventually used coal

Entrepreneur

Someone who manages and assumes the financial risk of starting a new business

Bourgeoisie

The “Haves”; the social class that owns all the wealth

Proletariat

The “Have Nots”: The working class

Communist Manifesto

Written by Karl Marx & Friedrich Engels; outlines the theory of communism and its aim for a classless society

Practical Communism

In reality, communism brought a system of government in which the state led by a small elite controlled all economic/political life and exercised authoritarian control.

Goal of Socialism

To achieve economic equity; government provides services such as health care, education, infrastructure, and safety.

Inefficiency of Socialist Government

Socialist government regulated the production & distribution of goods, which became inefficient.

Natural Selection

The process by which organisms better adapted to their environment tend to survive and produce more offspring.

Economic Equality

The goal of socialism to ensure fair distribution of wealth and resources

Class Struggle

The conflict between different classes in society, particularly between the bourgeoisie and proletariat

Harsh Treatment Justification

Social Darwinism was used to justify harsh treatment of mentally ill persons & people of different religions, races, and ethnicities.