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Economic-political philosophy founded is the 19th century.

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aims to replace private property and a profit-based economy with public ownership and communal control of at least the major means of production (e.g., mines, mills, and factories) and the natural resources of a society.

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A Capitalist economy revolves around private ownership. People have power over their own income and work.

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1. Lower, Middle, and Upper class
2.  Work determines pay; more
experience gets you better jobs,
which gets you more money
3. Citizens have private ownership
of their own property

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-Dictator of USSR 1929-1953
-5 year plan to transform into an "industrial superpower"
-Served a reign of terror by executions and the establishment of labor camps
-Responsible for an estimate of 20 million deaths
-Died at age 74 of a stroke

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Approved the building of the Berlin Wall,1961 and ordered nuclear missiles sent to Cuba,1962

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-Prime minister of Hungary 1956

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Leader of the Nationalist forces in China

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Led political revolution in China

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1. Everyone owns everything equally.
2. Factories and farms are owned by everyone.
3. There is no individual money and no social classes.
4. There no state.

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Capitalism began in the 16th century following the growth of the English cloth industry.

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The Protestant Reformation promoted capitalism due to the belief that the hardworking and rich had higher virtues than the poor.

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Capitalism heightened in the 18th century as it shifted from commerce to industry. Economic inequality continued as the industrial revolution followed.

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Countries lost trust in the capitalism movement due to the Great Depression in the United States in the 1930s. However, the economies of many capitalist countries thrived following World War II, restoring faith in capitalism.

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Created the Containment policy, Domini Theory, and Marshall Plan

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Gained popularity from WW2 and sent American "advisors" to Vietnam

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Gained popularity from WW2 and sent American "advisors" to Vietnam

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Convinced Soviets to remove missles from Cuba and guarenteeing on American on the moon

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Following assaination of JFK and greatly expaned America's role in Vietnam

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End American involment in Vietnam

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General of the United Nations during the Korean War

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Founded by Karl Marx, a German economist who wrote the book The Communist Manifesto, in 1848.