I recently had several extensive discussions about what kind of society we live in and what society we would want to live in. Several definitions are important and useful for future topics/conversations.
- Socialism: Abolishes classes, significant ‘welfare’ programs, People are taxed based on ability, and given aid based on their contributions. Private ownership.
- Communism: Abolishes classes, no private ownership, people are taxed on ability, and given need-based aid.
- Democracy: People elect those in power (opposite: fascism)
- Fascism: Dictatorship
- Capitalism: Private ownership, market sets prices/demand/etc. Classes exist.