Socialism or Capitalism Flashcards
Why did the idea of socialism emerge?
The idea of socialism emerged in response to the Industrial Revolution, which saw the emergence of a new class of industrial capitalists who owned the means of production and exploited the working class. It proposed alternative systems of economic organization, such as Marxist socialism, democratic socialism, and anarchism, to eliminate exploitation, inequality, and poverty.
Why did the idea of Capitalism emerge?
Overall, the idea of capitalism emerged as a response to the changing economic and social conditions of the time, and as a way to facilitate economic growth, innovation, and prosperity through market competition and private ownership of the means of production.
What is utopian socialism?
Utopian socialism is a term used to describe a group of early socialist thinkers who developed ideas about creating a better society based on their own visions of an ideal or “utopian” world.
Socialism achieved by the moral persuasion of capitalists to surrender the means of production peacefully to the people.
This term was first used in the 19th century to describe a variety of social and economic reform movements that emerged in response to the negative effects of industrialization and capitalism.
What are trade unions?
Trade unions are organizations formed by workers to improve working conditions, wages, and benefits for their members through collective bargaining with employers.
They are governed by elected officials and engage in political lobbying and advocacy to influence government policies and regulations.
What is the welfare state?
The welfare state is a government system that provides social services and a safety net for the well-being of citizens.
It is funded through taxes and is intended to provide a basic standard of living for all citizens, regardless of income or social status.
What is Chartism?
Chartism was a working-class movement that emerged in Britain in the mid-19th century.
It called for a series of political reforms aimed at expanding democracy and improving the living and working conditions of working-class people.
Who are the Fabians?
The Fabian Society is a British socialist organization that was founded in 1884.
Important role in the development of British socialism in the late 19th and early 20th centuries.
Also played an important role in the formation of the British Labour Party, representing the interests of the working class.
What is the co-operative movement?
Provided a way for workers to gain greater control over their working conditions and improve their economic situation.
Creating businesses and organizations that were owned and controlled by their members, promoting a sense of community and solidarity among workers and building stronger and more resilient communities.
What is the Communist Manifesto?
The Communist Manifesto is a political pamphlet written by Karl Marx and Friedrich Engels and first published in 1848.
The Communist Manifesto outlines the principles of communism and argues for the overthrow of the capitalist system, with measures such as the abolition of private property, a progressive income tax, and centralization of credit.
What is Marxism?
Marxism is a political and economic theory based on the works of Karl Marx and Friedrich Engels that seeks to create a classless society in which the means of production are owned and controlled by the people.
The Working Class Revolution argues for collective ownership of property and centralization of economic decision-making in the hands of the state, inspiring revolutions and political parties.
What is the ‘Eight-hour day” ?
The Eight-hour Day is a labor movement advocating for a standard 8-hour workday and 40-hour workweek.
Emerged due to the long working hours and poor working conditions of many laborers, who were often required to work 12 hours or more per day, six or seven days per week.
What is the Australian Labour Party?
The Australian Labor Party (ALP) was founded in the late 19th century as a response to the social and economic changes brought about by the Industrial Revolution.
It protected worker rights and it established a minimum wage, workplace health and safety regulations, social welfare programs, and the promotion of unionization and collective bargaining rights.
What is laizzez-faire?
The government did not interfere with the workings of the market, allowing businesses to pursue their own self-interest and workers to compete for jobs and wages in an open and competitive marketplace.
It led to the growth of large-scale capitalism, the expansion of trade and commerce, and the emergence of new technologies and forms of production. Also had negative effects like exploitation of workers, economic inequality, and monopolies.
This led to the rise of the labor movement and the establishment of government regulations and social welfare programs to protect workers and promote economic equality.
What is the proletariat?
The proletariat is the working-class people who sell their labor for wages in a capitalist system.
It is often paid low wages, have little job security, and are subjected to harsh working conditions.
The proletariat generally includes people who perform manual or low-skilled labor, such as factory workers, miners, agricultural workers, and service sector employees.
Marx argued that the proletariat, as a class with nothing to sell but their labor, would be the driving force behind the overthrow of capitalism and the establishment of a socialist system.
What is bourgeoisie?
The bourgeoisie is a term used to describe those who own capital and property in a capitalist economy, typically business owners, professionals, and other white-collar workers.
It was popularized by Karl Marx and Friedrich Engels, who argued that the bourgeoisie would exploit the labor of the proletariat for their own profit, leading to social and economic inequality and the downfall of capitalism.
