Theory

Marxism:

Communism:

Socialism:

Capitalism:

Definition
Economic and social system based upon the political and economic theories of Karl Marx and
Friedrich Engels. Summed up in the Encarta Reference Library as a theory in which class struggle
is a central element in the analysis of social change in Western societies. The system of socialism
of which the dominant feature is public ownership of the means of production, distribution, and
exchange.
Is a revolutionary socialist movement to create a classless, moneyless and stateless social order
structured upon common ownership of the means of production, as well as a social, political and
economic ideology that aims at the establishment of this social order.
An economic system characterised by social ownership of the means of production and cooperative management of the economy. This system would consist of production and distribution
organized to directly satisfy economic demands and human needs, so that goods and services
would be produced directly for use instead of for private profit.
Economic system based on the private ownership of capital goods and the means of production,
with the creation of goods and services for profit. There is general agreement that it became
dominant in the Western world following the demise of feudalism.

From each according to his abilities, to

each according to his needs.
Communism

From each according to his ability, to

each according to his deeds. - Socialism
There is a hierarchy here. Socialism and
communism are alike in that both are
systems of production for use based on
public ownership of the means of
production and centralized planning.
Socialism grows directly out of capitalism;
it is the first form of the new society.

THE POLITICAL SPECTRUM

This political spectrum shows where and how different political beliefs relate to each other.
Each of the political ideologies below sits where it is on the spectrum because the
characteristics associated with that political ideal are similar to the other around it. Common
characteristics of the left include workers rights and public (government)
ownership. Common characteristics of the right include business class (middle class)
favouritism and private ownership.

Communism
(German Democratic Republic)

Marxism is even further left

Socialism
COMMUNISM AT A GLANCE:
Government: The one party state, country is run by
one party.
Human rights: Strict limits on human and civil
rights
Housing: Average standards lower but evenly
distributed. No class distinctions
Businesses: are government owned
Media: high censorship, owned and regulated by
government

Social Democratic

Fascism
(Nazi Germany)

Capitalism (Australia/USA)
CAPITALISM AT A GLANCE:
Government: Democratic elections. Many parties
compete for leadership
Human rights: Fewer limits on human and civil
rights
Housing: Average standards higher and unevenly
distributed. Class distinctions high
Businesses: are privately owned
Media: low censorship, owned by private companies