Communism- Pros- Equal wages
- Equal rights - No Social class - No exploitation of the workers by the higher and richer class - Poverty is decreased |
Communism- Cons- No individual initiative
- No job promotions/No progress or advance - No private ownership - No opposition parties - The inevitable result of complete concentration of power is an oppressive corrupt government - The Government owns everything you ‘own’ - No freedom to choose |
Capitalism- Pros- Opportunities to raise your wages/income
- Hard work is rewarded - A competitive market provided by capitalism facilitates the manufacture of a wide variety of products and the formation of a wide range of services. - More sense of ‘liberty’ |
Capitalism- Cons- Unfair competition
- Materialism – Profit will remain the only primary business goal - Business giants take over smaller companies (ex: Lidl) |