Determine whether the following statement about the means of production is true or false: Under...

Question:

Determine whether the following statement about the means of production is true or false: Under fascism, it is privately owned, and under capitalism, it is owned by the government.

Means Of Production:

The elements required to produce commodities in an economy are referred to as the means of production. Knowledge, land, raw materials, and capital are examples of the means of production that can be owned or controlled by the government or by individual citizens.

Answer and Explanation:

  • The statement is False.

The government takes precedence over individual interests because fascism is a totalitarian dictatorship controlling the economy and society. For example, the National Fascist party dominated the Kingdom of Italy and had complete control over the economy.

The economy is more open in capitalism, with fewer government regulations, and the private sector owns and controls the means of production. For example, Hong Kong has no tariffs on imported goods, and the private sector is free to profit in the market. However, indeed, both fascism and capitalism are privately owned.


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Comparing Anarchism, Capitalism, Fascism & Communism

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Chapter 26 / Lesson 7
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Learn the details of anarchism, capitalism, fascism, and communism. Discover the differences of fascism vs communism, what the opposite of capitalism is, and how anarchism works.


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