Principles
What economic system emphasizes private ownership and free markets?
What is capitalism?
In capitalism, what is the government's role in the economy?
What is minimal intervention?
What is the primary goal of capitalism?
What is making profits?
This theory led to the establishment of social programs and welfare systems aimed at reducing inequality and providing for all citizens.
What is socialism?
A policy or attitude of letting things take their own course, without interfering
What is laissez-faire?
What theory focused on a no-harm principle and promoted equality as a critique of capitalism?
What is utilitarianism?
How does socialism view the government's role in the economy?
What is significant intervention in the economy?
What is the main goal of socialism?
What is economic equality?
The principles of this theory have been linked to economic growth and innovation through competition and private enterprise.
What is capitalism?
The Utilitarian principle that "one can do whatever one wants as long as his actions do no harm to others"
What is the no harm principle?
This ideology advocates for the creation of a perfect society where everyone shares resources equally. What is it?
What is utopianism?
In Marxism, what kind of government is seen as necessary for the transition to a classless society?
What is a dictatorship of the proletariat?
What does utilitarianism aim to achieve for society?
What is overall happiness or welfare?
This ideology inspired movements promoting the idea of a perfect society where resources are shared, leading to various communal experiments.
What is utopianism?
In Marxism (Communism), they are the workers or working-class people.
Who are the proletariat?
Which economic theory is based on the idea that the means of production should be owned and regulated by the community as a whole?
What is socialism?
Utilitarianism often influences government policies. What is the main focus of these policies?
What is the greatest good for the greatest number?
What is a key goal of Marxism?
What is the abolishment of class distinctions?
This theory has influenced policies aimed at maximizing overall happiness and welfare, often justifying government intervention in social issues.
What is utilitarianism?
In a free market, individuals acting in their own self-interest will maximize social benefits. No one can see it, but it is still an essential principle of capitalism.
What is the invisible hand?
This theory critiques capitalism and proposes a classless society where all property is publicly owned. What is it?
What is Marxism?
In Utopianism, what does the government primarily seek to achieve?
What is the establishment of a perfect community?
Utopianism seeks to create a society based on which ideal?
What is perfection or ideal living conditions?
The impacts of this theory can be seen in various revolutions that aimed to overthrow capitalist systems and establish a classless society.
What is Marxism?
In Marxism, it is the capitalist class who own most of society's wealth and means of production.
Who are the bourgeoisie?