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Capitalism
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Soicalism
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  • Adam Smith

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  1. Their ideas were the foundation of laissez-faire capitalism.

  2. Capitalism is an economic system in which money is invested in business ventures with the goal of making a profit.

  3. These ideas helped introduced the Industrial Revolution.

The Wealth of Nations

  • The Communist Manifesto

  • Karl Marx

  1. In Socialism, the factors of production are owned by the public and operate for the welfare.

  2. Socialism grew out of a belief in pogress and a concern for social justice.

  3. Socialist argued that the government should actively plan the economy rather than depending on free-market capitalism to do the job .

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