10-28 10-29 Wednesday and Thursday

 

10-28 10-29 Wednesday and Thursday 

Karl Marx Communism Socialism Communist Manifesto 1848

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ADAM SMITH - WEALTH OF NATIONS- LAISSEZ FAIRE -CAPITALISM

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Capitalism and Socialism: Crash Course World History #33

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laissez faire- Economic theory that argues that governments should not interfere with business affairs 

Adam Smith- Philosopher who defended laissez-faire economics 

capitalism- Economic system in which people invest money to make a profit 

utilitarianism- Belief that an idea is only as good as it is useful 

socialism- Belief that businesses should be owned by society as a whole 

Karl Marx- Economic thinker who wrote about a radical form of socialism 

communism- Form of socialism in which all production is owned by the people 

union- Organized groups of workers that bargain with business owners to get better pay and working conditions 

strike- Organized refusal to work 

THE PHILOSOPHERS OF INDUSTRIALIZATION (Pages 300–301) What is capitalism? Industrialization led to new ways of thinking about society. Some economists thought that the government should leave business owners alone. Their view is called laissez faire. Adam Smith argued that governments should not put limits on business. He and others, including British economists Thomas Malthus and David Ricardo, supported a system called capitalism. In a capitalist economy, people invest their money in businesses to make a profit. Smith and the others believed that society would benefit over time from this system. Supporters of laissez faire opposed laws to protect workers. 

1. How does capitalism work? _______________________________ RISE OF SOCIALISM; MARXISM; RADICAL 

SOCIALISM (Pages 301–304) What is socialism? Other thinkers challenged capitalism. One group was called the utilitarians. According to utilitarianism, an idea or practice is good only if it is useful. Terms and Names laissez faire Economic theory that argues that governments should not interfere with business affairs Adam Smith Philosopher who defended laissez-faire economics capitalism Economic system in which people invest money to make a profit utilitarianism Belief that an idea is only as good as it is useful socialism Belief that businesses should be owned by society as a whole Karl Marx Economic thinker who wrote about a radical form of socialism communism Form of socialism in which all production is owned by the people union Organized groups of workers that bargain with business owners to get better pay and working conditions strike Organized refusal to work Before You Read In the last section, you saw how industrialization spread to different nations. In this section, you will learn about new ideas and reforms. As You Read Use a chart to summarize the characteristics of capitalism and socialism. The utilitarians thought it was unfair that workers should work so hard for such little pay and live in such poor conditions. They thought the government should work to end great differences in wealth among people. Some thinkers wanted society as a whole to own businesses. This way a few people would not grow wealthy at the expense of everyone else. Instead, all people would enjoy the benefits of increased production. This view—called socialism—grew out of a belief in progress and a concern for justice. A German thinker named Karl Marx proposed a form of socialism that became known as Marxism. He said that factory owners and workers would struggle for power. Over time, he said, the capitalist system would destroy itself. The workers would rebel against the wealthy few. Marx wrote The Communist Manifesto. It described communism, a form of socialism in which production is controlled by the people. In the early 1900s, these ideas would bring revolution. 

2. How are capitalism and socialism different? ______________________________ 

LABOR UNIONS AND REFORM LAWS (Pages 304–305) How did workers take action to improve their lives? While thinkers discussed these different ideas, workers fought to improve their lives. Many workers joined unions. A union is a group of workers that tries to bargain with employers for better pay and better working conditions. When employers resisted these efforts, the workers went on strike, or refused to work. British and American workers struggled for a long time to win the right to form unions. By the late 1800s, workers in both countries had made some progress. The British Parliament and reformers in the United States also tried to fix other social problems. Britain passed laws to limit how much work women and children could do. Groups in the United States pushed for similar laws. 

3. How did both the government and workers themselves try to improve workers’ lives? _______________________________ 

THE REFORM MOVEMENT SPREADS (Pages 305–306) What other reforms were taking place at this time? Another major reform movement of the 1800s was the effort to abolish slavery. The British Parliament ended the slave trade in 1807. It then abolished slavery throughout British territories in 1833. Slavery was finally abolished in the United States in 1865, after the Civil War. Spain ended slavery in Puerto Rico in 1873 and in Cuba in 1886. In 1888 Brazil became the last country to ban slavery. Women were active in many reform movements. As they fought for the end of slavery, many women began to fight for equal rights for women. The movement began in the United States in 1848. In 1888, women from around the world formed a group dedicated to this cause. Reformers took on other projects as well. Some pushed for—and won— improved education. Others tried to improve conditions in prisons. 

4. Name two major reform movements of the 1800s. ______________________________________________