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Capitalism and Socialism

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Lesson

An economy based on capitalism has much less government involvement than an economy based on socialism.

Outline

The Christian Worldview and Economics

Part 1
 

I.  Introduction

A.  Christians ought to care about social issues.

B.  Good intentions are not enough.

C.  Christian concern must be linked to sound thinking.

 

II.  Continuum

    Capitalism      Interventionism/Mixed Economy      Socialism
    |__________|__________|__________|__________|
    0                                                                            100

 

III.  Definitions

A.  Socialism - A command economy in which all power flows from the top down.

B.  Capitalism - A free-market economy where decisions are made freely without coercion from the government.

C.  Interventionism - A mixed economy of both market and government control.