Better dead than Red

Who invented it?

Adam smith came up with the idea of Capitalism. Adam smith was a 18th century philosopher. He was born in kirkcaldy , Scotland in 1723. "Wealth of nations" had a important impact on modern economics. It became popular because people could get rich or get a lot of money quickly.

Why is it the best philosophy?

  • You get more choices to choose from.
  • Everyone starts from ground zero, so everyone has a chance to go to the big leagues.
  • Choose where you go to school.

capitalism Vs. Communism vs. socialism

  1. Free market.
  2. Government does not choose winners and losers.
  3. Freedom of Religion.
  4. Private ownership/corporate which produces profits.
  5. Coexist with many political systems.
  6. Social structure.
  7. Everyone makes decisions for themselves.


  1. All production is owned by the public.
  2. Share your profit.
  3. Can coexist with political systems but limited.
  4. No social structure.
  5. No type of religion.
  6. no one owns anything.
  7. work for the government.
  8. No social structure.
  9. No leader.
  10. Means of control- by force.


  1. All production is owned by the public.
  2. can coexist with political systems but limited.
  3. No class structure.
  4. Production is socially owned.
  5. claims that state "economic and political models are inefficient or incompatible with civil liberties".
  6. Friedrich Hayek stated that socialist command could not transmit information about prices and productive quotas, and because of that it could not make rational economic decisions.

Where is it found today?

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  • Great Britain
  • United States