Political and economic theory

Capitalism

Capitalism is a social and economic system in which the means for producing goods (ie the land, the factories, new technologies etc.) and the means for the distribution of goods (ie the transport networks, railways, roads etc.) are privately owned.

The statistic after which McGrath’s theatre company took its name – 7:84 (7% of the country own 84% of its wealth) – showed a wide social imbalance that resulted from Britain’s capitalist economic model. The Cheviot, The Stag and the Black, Black Oil is clearly a strident critique of Capitalism.

Socialism

Socialism is a social and economic system which favours shared social or government ownership and control of the means of production and distribution. Socialists would argue that an economy should operate on the production of goods to satisfy economic demand and human need.

In a socialist system, all goods are valued in line with their use, and workers paid in accordance with the contribution they have made.

The theatre company 7:84 (Scotland) was a radical socialist theatre group. The Cheviot promotes socialist values throughout.