Capitalism, Socialism and Communism

Front

Wrote the Wealth of Nations

Back

Adam Smith

Front

Laissez Faire

Back

Adam Smith

Front

Supported free trade and free markets (no restrictions)

Back

Adam Smith

Front

"Father of Capitalism"

Back

Adam Smith

Front

Individuals should pursue self-interest

Back

Adam Smith

Front

No need for government regulation of the economy

Back

Adam Smith

Front

The factors of production should be privately owned by individuals or businesses.

Back

Adam Smith

Front

Critical of capitalism

Back

Karl Marx

Front

Wrote the Communist Manifesto and Das Kapital

Back

Karl Marx

Front

the proletariat (workers) should unite and overthrow the capitalist bourgeoisie (wealthy class)

Back

Karl Marx