Determine each characteristic of Capitalistic ideas and Communist ideas.Each characteristic will only have one response.(7 points)Capitalism Communism Book- Wealth of Nations the laissez-faire approach to government involvment in economy Book- Communist Manifesto and Das Kapital centralized government control of businesses private property does not exist as the government controls land and resources ides arose because of injustices for workers during the Industrial Revolution competition motivates success in business and economy

Question

Determine each characteristic of Capitalistic ideas and Communist ideas.Each characteristic will only have one response.(7 points)Capitalism Communism Book- Wealth of Nations the laissez-faire approach to government involvment in economy Book- Communist Manifesto and Das Kapital  centralized government control of businesses private property does not exist as the government controls land and resources ides arose because of injustices for workers during the Industrial Revolution competition motivates success in business and economy

GPT-4o mini · Answer

Here’s a comparison of the characteristics of Capitalism and Communism based on the provided prompts:

| Capitalism | Communism | |-------------------------------------------------|----------------------------------------------------| | Book: Wealth of Nations | Book: Communist Manifesto and Das Kapital | | Laissez-faire approach to government involvement in the economy | Centralized government control of businesses | | Private property exists | Private property does not exist as the government controls land and resources | | Ideas arose because of injustices for workers during the Industrial Revolution | Ideas arose because of injustices for workers during the Industrial Revolution | | Competition motivates success in business and economy | Focus on equality and elimination of class distinctions |

(Note: The fourth characteristic appears to be the same for both ideologies, but that point specifically refers to the emergence of Communist ideas in response to labor conditions, while Capitalism stemmed from the economic developments and individualistic pursuits of the time.)