January 2013

Morals vs Ethics

Morals and Ethics – though basically are the philosophies of right and wrong, cannot be easily defined. The difference arise based on the source of origin of these principles – whether it is from the society’s side or from the individual’s side. Theodore Sturgeon defines morals and ethics as below : morals Society’s code for

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Capitalism

Capitalism is the philosophy which advocates an economic system characterized by private or corporate ownership of goods. Features of capitalism Investments are determined by private decision. There will be competition in the market and freedom for entry. Prices, production, and the distribution of goods are determined mainly by competition in a free market.

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Communism

Communism is a philosophy advocating collective ownership and administration of the means of production, ownership and distribution of goods in a state-less society. Features of Communism: Group living in which there is no private property. Means of production are owned and controlled by the community(party). Goods are owned in common and are available to all as needed.

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Social Democracy

Social Democracy is the political philosophy that advocates a peaceful, evolutionary transition of society from capitalism to socialism, using established political processes. It rejects Marxism’s advocacy of social revolution. Social-democrats regard state regulation (without state ownership) sufficient to ensure economic growth and a fair distribution of income.

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Libertarianism

Libertarianism is a political philosophy which advocates that individuals should have complete freedom of action, provided their actions do not infringe on the freedom of others. Some Libertarians – oppose income tax and other government impositions. oppose social security programes and the postal service. oppose gun control. support the legalization of prohibited drugs.

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Individualism

Individualism is a political and social philosophy that emphasizes individual freedom. Main Advocates of Individualism Adam Smith,  Jeremy Bentham,  Alexis de Tocqueville etc. Philosophy of Individualism All values are human-centred. The individual is of supreme importance. All individuals are morally equal. Great value on self-reliance, on privacy, and on mutual respect. Opposes authority and to all manner of

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Socialism

Philosophy advocating collective or governmental ownership and administration of the means of production and distribution of goods. Features of Socialism: Group living in which there is no private property. Means of production are owned and controlled by the state. Early Socialism Advocated the need for non-coercive communities of people working non-competitively for the spiritual and physical well-being of

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Authoritarianism

Authoritarianism is a philosophy similar to totalitarianism,  where is there is submission before authority and no or very less individual freedom of thought and action. Authoritarian governments usually lack a guiding ideology and may tolerate some pluralism in social organization.

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Dictatorship

The political philosophy in which one person or an oligarchy possesses absolute power without effective constitutional checks. There can be communist or fascist dictatorships.

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