Socialism Addition to Economies

What Changes our Capitalism into Socialism?

Economic system mixed with government involvement/regulation

• U.S. Postal Service• Amtrack• Medicare, Medicaid• AFDC• Social Security• Unemployment Compensation• FTC• EPABRINGS US TO A MIXED CAPITALIST SYSTEM

What is SOCIALISM?• State ownership of means for producing

goods and services.– A Socialist economy has 3 basic characteristics:1.State owns major factors of production2.Central planners determine many of the three

basic questions3.There is an attempt to distribute income equally.As in all 3 basic economies… socialism is determined

by degrees…explain!