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    Comparison of Two Economic Theories

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    Jeno Gono
    comparison of two economic theories (marxism and capitalism)

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    Comparison of Two Economic Theories

    Uploaded by

    Jeno Gono
    10 views2 pages
    comparison of two economic theories (marxism and capitalism)

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    Comparison of two economic theories

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    comparison of two economic theories (marxism and capitalism)

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    10 views2 pages

    Comparison of Two Economic Theories

    Uploaded by

    Jeno Gono
    comparison of two economic theories (marxism and capitalism)

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Basis for Comparison Capitalism Marxism.

    Meaning and definition An economic system An economic, political,


    whereby private and social concept that
    individuals own and critically checks the
    control means of impact of capitalism on
    production. labor, productivity, and
    economic development.
    Natural outgrowing of the
    Economic structure Free enterprise economy
    free-market economy
    The transition from private
    Sector Private sector
    to public sector.
    Divides society into rich The gradual elimination of
    Classes
    and poor. class distinctions.
    Growth Individual growth Societal growth
    Economic growth of the The economic growth of
    Economic growth
    state is absent. the state is present.
    To the business owner To both society and the
    Benefits of capital
    alone. public
    More priority on societal
    individual freedom is
    Priority to societal needs benefits than individual
    prioritized above society.
    interests.
    Private ownership and Government ownership
    Ownership structure
    control and control
    The gradual elimination of
    Individual freedom Present
    individual freedom
    Organized practice
    Religion Permitted
    abolished
    Comparison of Two Economic Theories (Marxism and Capitalism)

    References:
    Murdock, Kayla (2009). Capitalism vs. Marxism. GRIN Verlag
    https://www.grin.com/document/150605

    https://www.investopedia.com/terms/m/marxism.asp

    Submitted by:

    JENO G. GONO
    Masterand

    Submitted to:

    DR. VICENTE S. BETARMOS JR.


    Economics Professor

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