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Capitalism Gives Rise to Socialism and Communism

Capitalism Gives Rise to Socialism and Communism. Market economies started in Europe in the 1700s and grew rapidly. This resulted in the Industrial Revolution. New inventions Improved manufacturing Capitalism is born (free market economy). Industrial Revolution. Pros More goods

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Capitalism Gives Rise to Socialism and Communism

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  1. Capitalism Gives Rise to Socialism and Communism

  2. Market economies started in Europe in the 1700s and grew rapidly. This resulted in the Industrial Revolution. • New inventions • Improved manufacturing • Capitalism is born (free market economy) Industrial Revolution

  3. Pros • More goods • Better goods • Rich get richer Cons • Harsh working conditions • Poor stay poor Pros & Cons of the Industrial Revolution

  4. 1848, Karl Marx & Friedrich Engels • Proposed an overthrow of capitalism • Supported Socialism- a philosophy that calls for property owned by society for the benefit of all The Communist Manifesto

  5. Workers revolt • National ownership of industry • More equal distribution of money • Everyone owns everything • No more class distinctions All of this equals the political system called communism. Steps to Socialism

  6. First successful communist revolution • A strict government used force to put its ideas into place • Renamed Union of Soviet Socialist Republic (USSR or Soviet Union for short) • First modern command economy Russia 1917

  7. Central planning committees made every economics decision • What to produce? • How to produce it? • Who gets it? • Meant to ensure equity & stability USSR

  8. Planning committee could not keep track of everything • Mole skin example (prices were set too high and too many pelts were collected and sat rotting in warehouses) • Shortages & long lines were common • Workers were not rewarded for good work or ideas = no improvements, poor quality work Downfall of Communism

  9. Equity- people were treated fairly • Security- everyone was taken care of and paid a fair wage • People had money and were treated fairly BUT… there were few products and even fewer good products to purchase. People had money but had to live like they were poor. The bottom line

  10. Make a poster split in half. Half of the poster will tell what Marx and Engels envisioned for communism. The other half will show what the reality of communism in the USSR was like. Your Assignment

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