“Isms” are used a lot to scare people or to convince people there is a proven ideal system.
- Free-market capitalism is an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state.
- Socialism is a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community.
- Marxism is the political and economic brainchild of Karl Marx and Friedrich Engels. It was later developed to form the premise for the introduction and development of communism.
- Communism is a political theory derived from Karl Marx, which advocates class war and produces a society in which all property is publicly owned. Each person works and is paid according to their abilities and needs.
- Totalitarianism is a system of government that is centralized and dictatorial and requires complete subservience to the state.