Isms Flashcards
Main Idea
IR led to economic, social, and political reform. While factory owners prospered, workers suffered in the short term. suffering led to rise of socialism and eventually communism.
Relevance
Many modern social welfare programs developed during this period
social welfare program
governmental program designed to protect citizens from economic risks of life
Laissez Faire
economic policy of letting owners of industry and business set prices and working conditions wo interference
Free market
system in which market forces of supply and demand determine prices and allocate available supplies wo govt interference
LF favors what system?
free market
Adam Smith
author of Wealth of Nations, defended free market, supported capitalism, invisible hand theory, supply and demand
Demand and supply
demand falls, supply rises, price falls. rises, falls, rises.
Capitalism
A system of government in which wealth is controlled by private owners for profit rather than the government
Dividends
sum of money paid regularly to shareholders of a company out of profits or reserves
What effect has the IR had on social classes?
Intensified rich-poor contrast
Carnegie believed…
that its better to keep wealth in hands of few
Negative effect of IR according to Carnegie
rigid social structure breeding mistrust btwn workers and employers
Positive effect of IR according to Carnegie
cause of progress and increased goods to benefit all
Possible criticism of Carnegie
Rich can’t be depended on to distribute
What does Carnegie believe we should do to administer wealth
provide a good example with charity and living modesty
Socialism
shared property distributed equally (collapsed)
Socialist goal
society operating for wealth of all people–govt as a representative plan the economy rather than depending on market forces
Utopians
Early socialists tried to build communities self sufficient, shared work, shared ownership of property
Cores of socialism
society>individual, human welfare societal objective. all humans productive and equal. history is history of progressiveness.
Karl Marx quote
“From each according to his ability, to each according to his need”
Ability sometimes =
contribution
Capitalism thru cows
You have two cows. Sell the milk, buy a third, grow.
Socialism thru cows
Govt takes cows, everyone has to care for cows, govt gives you all the milk you need
Communism thru cows
communal barn w everyones cows and labor divided and milk is taken by govt
Robin Hood is a
socialist
Socialism in a nutshell
Bureaucrats give your stuff away and you’re arrested for not doing it
Communism in a nutshell
socialism on steroids
Epoch
pd of time in society
gradation
stage or degree
What did Karl Marx write?
Communist Manifesto (marxism)1840s
Marx’s ideas concerning owners-working class relations?
economics driving force in history–class struggle–bourgeoisie v proletariat natural enemies
Which idea did Marx dislike? Why?
Utopians-unrealistic
bourgeoisie
middle class
proletariat
working class
Communism
form of socialism with abolished classes/classless society. govt owns all businesses and controls distribution of services and sets prices
invisible hand theory
self interest of capitalism ultimately creates jobs, industry, knowledge, beauty
Current Capitalist countries
US, Germany, Japan
Current Communist countries
Cuba, former Russia, N Korea
Parties: US v. USSR
free elections and multiple parties v. one party state
Ownership: US v. USSR
Industry and agriculture owned by private v state
Profit: US v. USSR
Owners employ and keep v Classless w no individual profit making
Govt interference: US v. USSR
Limited v controls most aspects of life
Freedom of speech: US v. USSR
that and movement v strong censorship
message of animal farm
communism is super bad
Study animal farm
ok
handouts as well
ok
which ism won the cold war
capitalism
globalization
spread of capitalism
taxes and govt programs today
socialist institutions in a capitalist society
private sector
private ownership individuals
Marx believed that in the future
proletariat misery would begin revolution
communism issue
doesn’t take incentive into account
Animal farm
study storyline and questions
