Economy bad shape[1]

Capitalism, Socialism, Communism

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    Adam Smith

    The life span of Adam Smith who is the father of modern Capitalist governments.
  • Adam Smith

    Adam Smith
    In March of 1776 Adam Smith published his book, " The Wealth of Nations," which talked about the "Invisible Hand" that guides the economy and works to promote general welfare. His book introduced the Laissez-faire theory. The Laissez-faire Theory states that government should play a very limited role in society.
  • The United States of America

    The United States of America
    On July 4th the United states was declared an independent nation and grew to be a successful Capitalist nation.
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    Karl Marx

    The life Span of Karl Marx the father of the modern Communist and Socialist nations
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    Friedrich Engels

    Friedrich Engels worked with Karl Marx in producing, " The Communist Manifesto" and later published Marx's last book (3 Volumes) after his death. He and Marx were best friends and worked hard to help the working class.
  • The Communist Manifesto

    The Communist Manifesto
    In the "Communist Manifesto," Karl Marx published his ides about the evils of Capitalism and brough forth the Ideas of Communism and Socialism with his friend Friedrich Engels.
  • Das Kapital Part 1

    Das Kapital Part 1
    Karl Marx's books "Das Kapital (Volume 1) " was published and worked with Marx's other book, " The Communist Manifesto" in proposing the concepts of History, Labor Theory of Value, the Role of Instituation, and the Dictatorship of the Proletariat (Das Kapital is a three volume book) (January 1st is a generic date because the original date is unpublished )
  • Canada

    After Canada was declaired a sovereign state in 1867 it later began to take on socialistic characteristics like free healthcare, high texes, cheap/free education, etc.
  • Das Kapital Part 2

    Das Kapital Part 2
    Karl Marx's book "Das Kapital (Volume 2)" was published with the help of Friedrich Engels who edited and published them after Marx Died. (January 1 is Generic)
  • Sherman Antitrust Act

    Sherman Antitrust Act
    The Sherman Anti-trust act was an imporant law that began to limit the capitalist system in the United States. It major role was to stop Monopolies that reduce competition in the Market.
  • Das Kapital Part 3

    Das Kapital Part 3
    Karl Marx's book "Das Kapital (Volume 3)" was published with the help of Friedrich Engels who edited and published them after Marx Died. (January 1 is Generic)
  • Socialist Party of America

    Socialist Party of America
    In 1901 the Socialist Party of America was started to institute socialistic ideas. But it was then disbanded by 2008.
  • United States Department of Labor

    United States Department of Labor
    In 1913 the U.S. Government instituted a Department of Labor to limit the capitalist economy and add safety and fairness.
  • The Fed

    The Fed
    In 1913 the Federal Reserve Bank was established as a way to reglate the United States Economy.
  • The Bolshevik Revolution

    The Bolshevik Revolution
    The Bolshevik Revolution (or Russian Revolution) led by Vladimir Lenin, which ended the Monachy of Tzar Nicholas II of Russia and created the Soviet Union. The Soviet Union was the first time in which Karl Marx's ideas were instituted.
  • Lenin's Death

    Lenin's Death
    By 1924 Lenin Died and the Soviet Union had become an established one-party Communist counrty in control of the country's economic, social nd political affairs.
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    The USSR's 5 Year Plan

    Communist government depend on a centrally planned government, so the Soviet Union's first five Year plan focused on the collectivization of agriculture and increased production of industrial supplies like chemicals, petroleum, and steel.
  • U.S. Securities and Exchange Commission

    U.S. Securities and Exchange Commission
    in 1934 the U.S. Government added this department to regulate the stock markets and prevent abuse, which instituted more government control.
  • The Cold War

    The Cold War
    Right after WW2 the Cold War started between the United States and the USSR and it was essentialy a war between Communism and Capitalism/Democracy. The U.S. would spread Capitalism/Democracy and the USSR would spread Communism. (Jan 1 is a Generic Date)
  • Communist China

    Communist China
    By October of 1949 communist revolutionary Mao Zedong led a revolution in China and instituted his version of command economy. He was able successfully turn China into a Communist state in which the Farmers were more essential then workers.
  • The Great Leap Forward

    The Great Leap Forward
    In 1958 China instituted and important 5-Year plan in which it completely modernized itself and eliminated all traces of a free enterprise. (January 1 is Generic)
  • Castro

    In 1959 Fidel Castro led a revolution in Cuba and converted it into a Communist State.
  • Den Xiaoping

    Den Xiaoping
    In 1977 Den Xiaoping came to power and tried to transition China away from a command economy to a market economy. This is one of the first traces of countries retracing their steps from communim/Marx's Ideas. (Jan 1 is Generic)
  • The Strenght of Communism

    The Strenght of Communism
    By the 1980's the strenght of Communism grew and 1/3 of the world's poplation lived in a communist state.
  • Mikhail Gorbachev

    Mikhail Gorbachev
    Gorbachev is elected to be the General Secretary of the Soviet union and began to reform Russia with his Glasnost & Perestroika policies. This is Russia's first steps away from their Communistic style and into a free market.
  • Fall of the Union

    Fall of the Union
    The Soviet union fell due to many internal conflicts and a need for reform. It was the end of the first Example of Communism.

    By 1994 Canada, Maxico, and the U.S. signed an agreement to open the borders to free trade which will help the Capitalist Government in the U.S. and promote entrepreneurship.
  • Venezuela

    Venezuela became a socialist nation when Hugo Chávez gained power. He instituted extensive social programs, but the economy still maintains private ownership.
  • Obamacare ( Patient Protection and Affordable Care Act )

     Obamacare ( Patient Protection and Affordable Care Act )
    On March of 2010 President Obama Signed in Obamacare which has traces of socialistic idealism found in Socialist Nations.