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E conomic philosophies (This is the same idea as the 4 types of economies)

E conomic philosophies (This is the same idea as the 4 types of economies). To keep everyone focused and to encourage participation, we are going to do something different today . Students who are quiet and listening will be given candy for good behavior .

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E conomic philosophies (This is the same idea as the 4 types of economies)

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  1. Economic philosophies(This is the same idea as the 4 types of economies)

  2. To keep everyone focused and to encourage participation, we are going to do something different today. • Students who are quiet and listening will be given candy for good behavior. • Students will also receive pieces of candy for answering questions. • Keep a tally at the top of your note of how many pieces of candy I owe you!

  3. Capitalism: • system where individuals own the means of production and distribution of goods and services. • This is the same idea as market economies from yesterday. • Adam Smith- is considered the father of Capitalism • Wrote Wealth of Nations • Believed in Laissez-faire economics

  4. Communism: • system where the people own the means of production and distribution of goods and services. • Same idea as Command economies from yesterday. • goal is to create a classless society by eliminating the power of the ruling class(rich) • decisions should be made to help everyone rather than a few rich people (owners) • Karl Marx- the father of communism. • Co-wrote The Communist Manifesto

  5. Socialism: • system where the government owns the means of production and distribution of goods and services. • Same idea as command economies from yesterday. • The goal of socialism is to spread wealth more evenly and to treat all people fairly.

  6. Candy!! • Write down the amount of candy I owe you. • If you received 5or more pieces, cross out 3 tallies (to be collected for taxes).

  7. Say What!!! • We are going to redistribute the candy only to the students with very few pieces. • How many pieces do you have now? • Do you have more or less than when we started? • Do you think this is fair? Why or Why not?

  8. Does this remind you of any thing we have discussed? • What kind of economic system is this? • Socialism • You will all get a piece of candy.

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