POLITICAL PARTIES

communism

Ownership of all means of production (factories, businesses, schools, healthcare, etc.) by the people; profits are shared and everyone is trained to run the business and take turns operating it.

Socialism

The state owns the means of production for the people.

Socialism: state control

The state decides what will be produced, for whom, and at what cost.

Socialism: service

The people are served by the state (supposedly).

Social democracy

People can own businesses but pay taxes to the state, which provides programs such as healthcare, education, recreation centres, and libraries.

Social democracy: elections

The people have regular elections where parties offer different programs.

Capitalism

Private ownership of the means of production; individuals are responsible for their own wealth and the market determines the value of their skills.

Conservative (right wing)

Low taxes, small government; government provides defense and property protection but few services. Individuals must pay large costs for healthcare and education.

Liberal (left wing)

Higher taxation and public services; government regulates business, taxes citizens, and provides programs they vote for. Healthcare has wait times but low direct cost.

Reciprocity

The understanding that favors or exchanges will be returned; in business, money is exchanged for desired goods.