Grade 11 CAPS – Term 1
Communism vs Socialism vs Capitalism
Capitalism
Economic system where the land and means of production are privately owned
Increase profits for their own benefit
Government should not interfere in the economy because competition creates
efficiency in business
Socialism
Stage immediately after revolution – the land and businesses are nationalised and
taken into public ownership
Main focus = equality
Communism
Private ownership falls away – country’s wealth is distributed evenly
Frequently results in low production, mass poverty and limited advancement
Karl Marx
Karl Marx ad Friedrich Engels produced a book – Communist Manifesto (1848) –
which outlined steps they believed a society would experience
According to Marx, in a capitalist society, the majority were wealthy and the minority
were poor, leading to class conflict and struggle. The middle class owned the means
of production whereas the working class could only sell their labour. The middle class
tended to exploit the working class by underpaying them to increase their own
wealth
Communism vs Socialism vs Capitalism
Capitalism
Economic system where the land and means of production are privately owned
Increase profits for their own benefit
Government should not interfere in the economy because competition creates
efficiency in business
Socialism
Stage immediately after revolution – the land and businesses are nationalised and
taken into public ownership
Main focus = equality
Communism
Private ownership falls away – country’s wealth is distributed evenly
Frequently results in low production, mass poverty and limited advancement
Karl Marx
Karl Marx ad Friedrich Engels produced a book – Communist Manifesto (1848) –
which outlined steps they believed a society would experience
According to Marx, in a capitalist society, the majority were wealthy and the minority
were poor, leading to class conflict and struggle. The middle class owned the means
of production whereas the working class could only sell their labour. The middle class
tended to exploit the working class by underpaying them to increase their own
wealth
