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Bellringer: 1/11 and 1/12

Bellringer: 1/11 and 1/12. Pick up the paper by the door. Go to the URL below and fill out the course recommendation survey for next year: Tinyurl.com/AllenWorld2CR Update your ToC: 91: Notes – 19 th Century Econ. Systems 92: Economics Game Worksheet

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Bellringer: 1/11 and 1/12

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  1. Bellringer: 1/11 and 1/12 • Pick up the paper by the door. • Go to the URL below and fill out the course recommendation survey for next year: • Tinyurl.com/AllenWorld2CR • Update your ToC: • 91: Notes – 19th Century Econ. Systems • 92: Economics Game Worksheet • 93: Study Guide – Unification/Industrial Rev. • Write down your HW: • Finish your study guide • Study for your Unification/Industrial Rev. quest NEXT CLASS!

  2. Capitalism, Communism, and Socialism: What do you think of?

  3. Capitalism, Communism, and Socialism

  4. So what is an economic system? • An economic system is a system of production and exchange of goods and services as well as allocation of resources in a society. • Three major economic systems during the Industrial Revolution: • 1. Capitalism • 2. Communism • 3. Socialism

  5. https://www.youtube.com/watch?v=cH4j5NiJAiE

  6. Economics Game:Capitalism, Communism, and Socialism Phase 1: Everyone needs to find a partner. You can only work in groups of 2 for this. Turn to the people beside you to find a partner.

  7. Economics Game:Capitalism, Communism, and Socialism Phase 1: Everyone will be given a certain number of Starbursts. DO NOT EAT THEM (YET!)!!!

  8. Economics Game:Capitalism, Communism, and Socialism Phase 1: With your partner, you will play “Rock, Paper, Scissors” until time is called (or until one of you run out of Starbursts). If this happens, please wait quietly until time is called.

  9. Economics Game:Capitalism, Communism, and Socialism Phase 1: STOP! Count your candy. See which partner has more candy. Question: Do you have more candy than you started with? Do you have less candy than you started with?

  10. What is capitalism? • Economic system. • Believes in individual ownership and competition. • Theory: When everyone is selfish and concerned with personal profit, everyone will benefit. • Adam Smith = “the” capitalist • Wrote Wealth of Nations: felt capitalism good for society = THE BEST ECONOMIC SYSTEM!

  11. What’s good about capitalism? • Freedom, choice. • You can work wherever, buy whatever, and pretty much do whatever. • If you’re successful, you can be very successful (Think Bill Gates) • “Survival of the fittest”  only the strong survive in capitalism!

  12. What’s bad about capitalism? • No “safety net.” • If you fail, you FAIL! The government is not going to save you. • If you’re unsuccessful, you can be very unsuccessful. Think about the poor. • Big gap between rich/poor.

  13. Economics Game:Capitalism, Communism, and Socialism Phase 2: Divide up your candy amongst you and your partner so you both have the same amount (or as close to equal as possible). Play “Rock, Paper, Scissors” for 2-3 minutes or until one person has all the candy (if that happens).

  14. Communism/Socialism: What’s the difference? • Socialism is the stage between Capitalism and Communism. • Nationalizes the means of production (i.e. corporations, banks, raw materials, etc.) = gives control of them to the government • BUT: NOT all are equal! • People are paid wages based on several factors (social need, difficulty of job, amount of schooling required, etc.), so not everyone will make the same wage.

  15. Economics Game:Capitalism, Communism, and Socialism Phase 3: Turn your attention to Ms. Allen and Ms. Borg. Pool all your candy (between you and your partner) together into one pile.

  16. What is communism? • Economic system. • Believes in collective (group) ownership and a planned economy (government makes decisions). • Theory: Everyone pools their resources and labor to evenly distribute everything. • Everyone gets an EQUAL amount of everything, regardless of how hard you work or don’t work! • Karl Marx = “the” communist • Wrote The CommunistManifesto with Engels – about class struggle, problems of capitalism • Wrote Das Kapital: 1867, critique of capitalism • Both written with Engels

  17. A Closer Look at the Communist Manifesto: • MAIN PROBLEM: Class struggle (between the haves and have-nots) • Class struggle leads to the dictatorship of the proletariat (middle class) • Dictatorship of the proletariat = requires the transition to the abolition (ending) of all classes, the creation of a classless society • Supported: • Abolition of property, heavy taxes, central banking • State-controlled communication, transportation, and education of children

  18. What’s good about communism? • Security, basic needs met. • Everyone would have a job, house, health care, etc. • NO SURVIVAL OF THE FITTEST PROBLEM HERE (ideally at least) • Who would support this idea?

  19. What’s bad about communism? • Lack of choice • No reward for being a better worker, slackers get no punishment(lack of incentives and consequences). • Everyone expected to be the same (lack of focus on individual growth).

  20. Marxism Marx and Engels studied the history of the world’s economies Communism!!! Socialism Capitalism They believed they discovered an inevitable pattern Feudalism Basic Communism

  21. How’s this related to the Industrial Revolution? • Adam Smith’s capitalism dominated the IR- Led to bad working conditions. • Karl Marx wrote about communism as solution to capitalism’s problems. • Marx said the workers would get fed up and overthrow their governments and start communism.

  22. After simulation: Answer the questions on your simulation sheet. Tinyurl.com/AllenWorld2CR Begin working on your study guide for your Unification/Industrial Revolution quest NEXT CLASS!

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