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Justina Nguyen, Victoria Nguyen
Ms. Kritzeck
English 2A Period 3
25 November 2013




Socialism is an economic system that is
characterized by the centralized planning of
major industries and by public ownership
Social ownership




Socialism originated in France during the
French Revolution in 1789
Karl Marx and Friderich Engels referenced
scientific socialism in the Communist
Manifesto
Karl Marx and Friedrich Engels wrote The Communist Manifesto in
1848
Socialism

Capitalism

Economic System

Everyone gets somewhat Free market(no
equal amounts of
regulations on any
money, but the harder
markets)
you work the more
money you get

Philosophy

Profit is distributed
Means of production is
among society in
owned, operated, traded
addition to earning wage for generating profit for
owner/shareholder

Religion

Freedom of religion

Freedom of religion

Key Proponents

Adam Smith, Ayn Rand

Robert Owen, Pierre
Leroux, Karl Marx,
Fredrick Engels



Came to the Soviet Union in December of 1922
Fell in December of 1991



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


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

Socialist Countries:
China
Denmark
Finland
Netherlands
Canada
Sweden
Norway
Ireland
New Zealand
Belgium

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Socialism