Jennifer Leet
12
Cult and Civ 2,
Essay Question 1 Throughout this class we have learned about three separate economic systems that have greatly impacted the world. The first system was mercantilism which basically was a single “mother” country that would control what was traded and controlled the industry. After mercantilism, we learned about capitalism. Being in a capitalist society means that the industry is left alone by the government unlike mercantilism. And finally, we learned about Marxism, which is more of a theory if anything. Marx believed that capitalism would fall because of the working class citizens that put all the effort into their work and receive little in return would revolt. If they revolted Marx theorized that the system would ultimately change into a socialist society. Socialism is basically the opposite of capitalism. The industry and the money would not be going to the corporation it would be divided amongst the community. What are the basic principles of mercantilism? Like stated in the first paragraph mercantilism is an economic theory that a “mother” country would control all of the trade of smaller countries. The basic principles stated, that a countries wealth would be determined by the amount of precious …show more content…
The big difference between capitalism and socialism is where the power comes from. In capitalism everything is run by the corporation while in socialism everything is controlled and run by the working man. Marx believe that the men who produce the goods are being cheated out of the money that has been earned. Marx believes that the men who put in the true physical labor are being kept on little wages while the man in charge seizes all of the wealth accumulated. Marxism states that the capitalist society will fall and lead to socialism. Socialism would create a society where the economy is characterized by social
12
Cult and Civ 2,
Essay Question 1 Throughout this class we have learned about three separate economic systems that have greatly impacted the world. The first system was mercantilism which basically was a single “mother” country that would control what was traded and controlled the industry. After mercantilism, we learned about capitalism. Being in a capitalist society means that the industry is left alone by the government unlike mercantilism. And finally, we learned about Marxism, which is more of a theory if anything. Marx believed that capitalism would fall because of the working class citizens that put all the effort into their work and receive little in return would revolt. If they revolted Marx theorized that the system would ultimately change into a socialist society. Socialism is basically the opposite of capitalism. The industry and the money would not be going to the corporation it would be divided amongst the community. What are the basic principles of mercantilism? Like stated in the first paragraph mercantilism is an economic theory that a “mother” country would control all of the trade of smaller countries. The basic principles stated, that a countries wealth would be determined by the amount of precious …show more content…
The big difference between capitalism and socialism is where the power comes from. In capitalism everything is run by the corporation while in socialism everything is controlled and run by the working man. Marx believe that the men who produce the goods are being cheated out of the money that has been earned. Marx believes that the men who put in the true physical labor are being kept on little wages while the man in charge seizes all of the wealth accumulated. Marxism states that the capitalist society will fall and lead to socialism. Socialism would create a society where the economy is characterized by social