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1. Capitalism
2. Socialism and Communism

Laissez Faire

Free Market Economy

Middle Class

Government controls the means of production

Supply and Demand

eliminate/narrow the gap between the rich and poor

Wealth of Nations

Communist Manifesto

Karl Marx

Private ownership of industry

Entreprenuers

Competition

Drastic economic and social reform

No/limited private ownership of property

Das Kapital

Adam Smith