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
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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.