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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?
Both promote individual ownership and minimal government involvement in the economy.
Socialism calls for collective ownership and operation of means of production, while laissez-faire capitalism insists on individual/private control.
Socialism propagates free market mechanisms, much like laissez-faire capitalism.
They both advocate for collective ownership and operation of all economic facilities.
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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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