Communism
Charlie, Sandy, and Tyler
What is Communism?
Communism is a system of government in which a single political party controls both the government and the economy; also, the theories developed by Karl Marx regarding the development of an ideal, classless society.
Information about Communism
Advantages
- Full employment
- No economic recessions
- Greater income equality
- Greater economic security
Disadvantages
- Inefficient use of factors of production
- Slower or stagnant economic growth
- Low quality goods and services
- Lower standards of living
Communist Countries
China
Mao Zedong took over China in 1949. HHas been Communistic ever since.
Cuba
Led by Fidel Castro and became fully Communistic in 1961.
Laos
Became a Communist country in 1975 and was supported by Vietnam and the Soviet Union.