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Captialism, Communism and Socialism

DO: SWBAT evaluate Smith’s theory on economics by reading excerpts from “The Wealth of Nations”

IA: Pre-Assessment; Define Capitalism in your own words, in one sentence.

AGENDA

Slide 1

Capitalism is an economic system based on money. The central idea of capitalism is that the marketplace, not rulers or governments, decide what will be made and sold.

Slide 2

In the marketplace, people influence what will be produced by the goods they decide to purchase. For example, if more people purchase Ford automobiles than Chevrolet automobiles, then more Fords and fewer Chevrolets will be produced. Market Economies are Capitalistic.

Slide 3

In his book The Wealth of Nations, economist Adam Smith called this idea the invisible hand (the ability of the marketplace to respond to public demand without the government getting involved). Because governments could not control the invisible hand from moving the marketplace, economists called this type of economy laissez-faire, or “hands-off” capitalism.

Turn and Talk

(a) What are some benefits of a Laissez Faire Capitalism?

(b) What are some drawbacks of a Laissez Faire?

Slide 5

In capitalism, entrepreneurs (private business owners) use the three factors of production; land, labor and capital (tools/machinery) to generate as much profit as possible.

Ideally, they can use that profit to lower costs and make their goods/service more affordable generating even more profit. Competition amongst rival companies is key to keep prices low.

Task

Task: In front of you are excerpts from Adam Smith's book; The Wealth of Nations.

After you indepedently read each excerpt, discuss within your group to evaluate whether you believe Smith's claim or if its a bunch of nonsense.

SWBAT evaluate Marx’s theory on economics by reading excerpts from “The Communist Manifesto”

HOW FAR

WE’VE COME

Pre-Assessment; Define Communism in your own words, in one sentence.

Slide 1

Communism is an economic system in which the government owns and controls manufacturing and is responsible for planning the economy. It was created in an attempt to eliminate the differences between the rich and poor. The economic term for Communism is a command economy.

Slide 2

In such a system, the government usually has charge of important parts of the economy, such as transportation, communication, banking, and manufacturing. Farms and most businesses are government controlled. The government may also set wages and decide who will work at which jobs.

Slide 3

In his book, The Communist Manifesto, (1848) Karl Marx explained his economic theory. He believed that history has been a continuous class struggle and that to end the cycle the proletariat, or workers, must unit to overthrow the bourgeoisie (the upper class/ bosses). It was only then that a classless society would be achieved.

Check for Understanding

Ink, Pair & Share: (a) Who would benefit the most from Communism? Explain.

(b) Who stands to lose the most from Communism? Explain.

Slide 4

Marx, and his colleague Friedrich Engels believed that Socialism was the midway point between a Capitalist society and a Communist society. Unlike Communism, there is more cooperation between the bourgeoisie and the proletariat.

SWBAT evaluate the system of Capitalism to evaluate whether it is more helpful or harmful to a community

NEW

GOALS

Why was Karl Marx against a Capitalist system? Explain with evidence from yesterday’s class.

Karl Marx and other communists (along with many socialist) think that Capitalism is a broke system. People are inherently greedy and will try (and succeed) to take advantage of the system.

Things that can be improved today

Slide 1

An example of this belief being correct is the Gilded Age (1880-1900) in American history. Employers were corrupt, they used their money and influence to get what they wanted from the police, politicians and took advantage of their workers.

Slide 2

Supporters of Capitalism disagree with these statements. They believe that capitalism and progress go hand in hand. They believe that competition between businesses would keep prices and wages at fair levels.

TASK

Today we will be evaluating whether Capitalism is more helpful or harmful to the people of a community.

Videos

Impact

Tactics

Tactics 1

Tactics 1

Tactics 2

Tactics 2

Tactics 3

Tactics 3

Picture the possibilities

Project 1

Project 1

Project 2

Project 2

Project 3

Project 3

Socialism(?)

SWBAT evaluate the system of Socialism to evaluate whether it is more helpful or harmful to a community

ACTION

PLAN

Why are most Americans so opposed to a Socialist system? Explain with evidence from last week’s class.

Slide 1

As America was always been a capitalist system, the ideas of socialism and communism are daunting in this nation. Many see the ideas are harmful to the status quo and the nation as a whole.

Slide 2

Other nations of the world are more open to socialism ideas. The chief competent of socialism is cooperation, those that have helping those that don’t. Usually the government is the medium that facilities this exchange

Slide 3

The world’s most successful socialist nations are located in Northern Europe, Finland and Sweden. However at the opposite end of the spectrum is Venezuela.

Slide 4

SWBAT evaluate the system of Communism to evaluate whether it is more helpful or harmful to a community

Click to edit text

Choose (a or B) or (c or d)

Slide1

Marx’s publication of the Communist Manifesto gained the following of a man by the name of VI Lenin. During WWI, Lenin was a POW in a German prison. When the German heard Lenin preaching these Communist doctrines, they decided to release him and send him back to Russia to hopefully start a revolution.

Slide 2

Lenin’s Russian Revolution helped create the first Communist State; the Soviet Union or USSR. From that point in 1919, other nations would also dabble in Communism, namely China, Vietnam, North Korea, Yugoslavia and Cuba.

Slide 3

Although Russia and China have reverted back to the Capitalist side of the spectrum, some of those other nations (Cuba and North Korea) have continued to be Communist.

SWBAT evaluate the progressive income tax

Click to edit text

IA: Tom Dick and Harry all

live in America.

Tom makes 40K a year

Dick makes 45K a year and

is married with two kids

Harry makes 91K a year. He

works 70-80 hour weeks as

a partner at a lawfirm.

America’s most capitalistic time was the Gilded Age. Business and employers were virtually unregulated by the government. However, as the Progressive Era began the government started to play a bigger role in people’s lives and, in turn, began to adopt some features that closely resembled socialism.

One of the changes that President Wilson implemented was the 16th Amendment, or income tax.

The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.

As far as income tax goes there are several types;

A flat tax idea seems simple enough: one tax rate, which applies to everyone, regardless of income.

A progressive income tax, is one in which the tax rate increases as income increases. In the US, this is done using tax brackets, in which income is divided into ranges, with each range taxed at a higher rate than the range below.

CFU: Lets check back in with Tom Dick and Harry. How much will they actually pay in taxes?

SWBAT analysis primary sources to evaluate why the Homestead Strike turned violent.

IA: Using your timeline on the back of this paper…Discuss with a partner with what occurred in Homestead, PA.

Before the Gilded Age, workers labored in small workplaces that valued artisan’s skills. Factory work was radically different, as they were often assigned a single step in manufacturing a product. Furthermore, long hours, poor working conditions and low pay led to these labor forces to become discontent. The late 19th century witnessed a class struggle between capital and labor.

Thus Unions were born. Unions would use strikes to disrupt production. The public and the government saw Labor Unions as anarchistic, unAmerican and communist.

However, with surplus of cheap labor, management held most of the power. They would use different tactics to defeat Unions.

Scabs- replacement workers

Lockouts—closing the factories before they could organize

Blacklisting- names of pro-union workers given to employers

Yellow Dog Contracts- a contract workers signed before they were employed stating that they would not join a union

State militia or Pinkertons- called in to break up strikes

Today we are going to learn about the Homestead Strike and the violent turn of events that took place there. Your task is to figure out why it turned violent.

SWBAT analyze primary sources to evaluate contrasting opinions on social Security

Click to edit text

If people are out of work (either retired or disabled or otherwise unable to find work), should they receive money from the government (which comes from tax money)? Explain in a sentence or two.

Slide 1 Notes

The Great Depression was a decade long economic depression in the 1930s. Franklin Delano Roosevelt, cousin of Teddy Roosevelt was elected president in 1932 and promised to help people.

Many people who were active in the Progressive Movement encouraged Roosevelt to use his power and government money to help people, while others opposed Roosevelt’s policies who believe in laissez-faire.

One of Roosevelt’s most famous ideas was Social Security, A policy that offers pension to those who retire, so that they’ll leave the workforce and open up jobs for younger people.

Stop and Jot

Take 5 minutes and read through the two historians evaluations.

After the timer goes off, discuss within your group and summarize each historian in your own words.

Classwork

Now that you have each historians' argument summarized; you will be reading through three primary sources. Based on these sources, you will be deciding which of the two historians was correct in their evaluation.

Annotate as you read. Look for good evidence to support your claim.

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