Capitalism An economic system where individuals and corporations have the

freedom to own their own factories and businesses. Money is made by individuals making their own decisions.

Their beliefs and characteristics Property is private owned. System of government is democratic Wealth distribute unevenly. Education and health care provided by private organization. Freedom of pre class distinction upper class ,middle class and lower class. Their religion maybe any. Government run by elected congressional members. Ruled by constitution and law. God is Universe, Jesus and nature . Level of personal growth is high. Focus is on the individual and his/her own progress in life.

History

Adam Smith is the father of capitalism He wrote a book’’ wealth of nations’’ Practiced in western Europe during middle ages 1800-1900 America Front men George Washington, Thomas Jeffers

How it Emerges

The capitalism emerged in the early modern period between 16th and 18th century.

It started spreading from England through different companies Then it changed into industrial capitalism in 18th century. By the beginning of 21th century it is the major economic system world

wide. The future of capitalism depends on people.

Some major countries under capitalism

United States Canada United Kingdom Australia New Zealand Austria Pakistan India Switzerland Israel Japan South Korea

Communism An economic system where everybody share equally the means of

production and the profit and losses. All decisions are made by central authority.

Their beliefs and characteristics

Property is owned by the state. System of government is totalitarian Wealth distributed equally. Education and health care provided by the state. Their religion is humanism. Government run by dictator. There is less level of freedom. Your God is your state. Classless society: all members of society are considered to be equal . Focus is on the progress of the community as a whole.

History

Karl Marx is the founder of communism. He wrote a book communist manifesto. It Was formed in 1840s Derived from French communisme It evolved from Russia. front men of communism are Vladimir Lenin, Leon Trotsky

, Joseph Stalin

How it emerges

It was began to practice in soviet union USSR It became famous among workers in Russia. It started in 1919-23 in war communism through Russian civil war Then during cold world war 1947-60 it was spread to east Europe,

France Italy and Asia.

Communist countries China Azerbaijan, Georgia, Kazakhstan, , Russia, Tajikistan, Turkmenistan, Ukraine Uzbekistan. Afghanistan, Mongolia Yemen. Vietnam

References http://

www.sahistory.org.za/article/capitalism-vs-communism-and-russian-revolution-grade-11

https://en.wikipedia.org/wiki/History_of_communism http://people.howstuffworks.com/communism6.ht https://en.wikipedia.org/wiki/History_of_capitalism http://

coldwar37.weebly.com/compare-the-capitalism-and-communism-that-created-a-bipolar-world.html

http://www.slayerment.com/blog/communism-vs-socialism-vs-fascism-vs-capitalism

http://www.jstor.org/stable/2580165?seq=1#page_scan_tab_contents