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AP US Government
Unit 4 – American Political Ideologies and Beliefs
Topic 4.9
How does the economic ideology of socialism contrast the laissez-faire capitalism upheld by classical liberals?
Socialism calls for collective ownership and operation of means of production, while laissez-faire capitalism insists on individual/private control.
Both promote individual ownership and minimal government involvement in the economy.
They both advocate for collective ownership and operation of all economic facilities.
Socialism propagates free market mechanisms, much like laissez-faire capitalism.
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AP US Government - 4.9 Ideology and Economic Policy
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Laissez-Faire Capitalism
Socialism
Economic Ideology
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