Pro workers pro labor pro people only 3 major types

pro-workers, pro-labor, pro-people
 Only 3 major types of economic systems—perhaps only 1
 World Economic Spectrum
o Communism (extreme left)
 Communal ownership of all resources and properties and the means of
production. Everyone has an equal piece of the pie.
 Everyone shares everything
 All property and such is communally owned
 Political and economic system all rolled into one
 Factories and business are all communally held and owned
 State government provides whatever we need, based on need
 State apparatus is there to manage economic activity
o Capitalism (extreme right)
 All resources and all means of production are in private ownership by
individuals. Ownership by the few.
 Everything in a purely capital society is in private hands
 “I’m going to do this, and sell my services to other people”
 Supply and demand
 Government does not bother anything economically
 Ownership by the few—lots of opportunity, but over time wealth becomes
very concentrated into fewer and fewer hands.
 Wal-Mart is privately owned, his business grew and kept growing which
consolidate wealth, they are putting other business out of business because
they cannot compete
o Socialism

 The government owns some of the means of production, or some of the