* individual, corporate and private

          * ownership of business and industry

* competition

* free market

 Socialism -

* government control over the means of production and

          * distribution of goods, including wages, etc.

* government controlled market

* little or no real competition

Some characteristics of both capitalism and socialism. (The U.S. has a mixed economic system highly characterized by capitalism.)

* "rule by the many;" popular/majority rule

* individual freedom

* equal protection

* participation

* human rights

 Fascism -

* dictator rule

* based on supremacy of state or purity and supremacy of race

* Nazi Germany - fascism based on race

* Fascist Italy - based on supremacy of citizenship/state

          * Karl Marx wanted to see a classless society.

* Famous quote - "From each according to his ability, to each according to his need..."

* Believed the suppressed workers of the industrial revolution should revolt and that this working class, the "proletariat," will rule.

* Once the working class became the rulers, then everyone would contribute to a socialist economy and everyone will be provided for equally.

* Marx may have not fully considered the selfish (?) nature of mankind.

 Leninism -

* Like Marxism, except, Lenin believed that typical workers were not skilled enough to run a successful revolution and government.

* Lenin believed that a group of professional revolutionaries would be needed to run the revolution and form the new ruling class.

 Modern Communism -

* An outgrowth of Marx's and Lenin's ideas.

* Totalitarian or authoritarian rule (typically).

* Most property and major means of production owned by the government.

* Strict party rule - one party, the communist party.

* Typically, a socialist economy.