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Socialism

Socialism. Chapter 22.5. I. Socialism. A. Some reformers became convinced that laissez-fair capitalism was not the best Inequalities- rich got richer Wanted to change ownership and operation of means of production

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Socialism

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  1. Socialism Chapter 22.5

  2. I. Socialism A. Some reformers became convinced that laissez-fair capitalism was not the best • Inequalities- rich got richer • Wanted to change ownership and operation of means of production B. Socialism- Government owns the means of production and operates them, everyone shares in the profits. C. Utopian Socialist- people live in small cooperative settlements in which everyone works for the common good.

  3. I. Socialism Cont. D. Robert Owen • Believed that people who lived in a good environment would stop acting selfishly • Spent money to make his workers happy built them good houses.

  4. II. Marx and Engels A. Karl Marx and Friedrich Engels write Communist Manifesto in 1848 • Owners vs. proletariat- working class • Society divides into two classes capitalists and workers • Proletariat unites and seizes power in a socialist Revolution • Eventually classless society in which people contribute what they could and receive what they need

  5. III. Variations of Socialism A. Marx Socialist- believed that a violent revolution is needed to get rid of capitalism. 1. communism or authoritarian socialism B. Democratic Socialists- a socialist government will develop gradually. 1. Socialist representatives elected gradually and take control of government and economy

  6. Private individuals own means of production • Workers are free to quit their jobs • Owners are free to choose what to produce • Public/gov. owns means of production • Individuals are free to start their own business • Property rights are guaranteed • Government provides programs to assure the welfare of all citizens • Businesses must compete • Workers must be protected • Consumers are free to choose what they want • Citizens are taxed to pay for services, wealthy carry most of burden • Gov. sets targets for production and plans economy • Wealth is distributed to all people, no extreme differences

  7. Completed Chart Capitalism Socialism/ Communism Public/gov. owns means of production Gov. sets targets for production and plans economy Wealth is distributed to all people, no extreme differences Workers must be protected Government provides programs to assure the welfare of all citizens Citizens are taxed to pay for services, wealthy carry most of burden • Private individuals own means of production • Individuals are free to start their own business • Property rights are guaranteed • Owners are free to choose what to produce • Consumers are free to choose what they want • Workers are free to quit their jobs • Businesses must compete

  8. Answer each of the following questions • What are the weaknesses of each system? • Which economic system would poorer people like best? Why? • Can there be a combination of both systems? How? • Which one do you think is the best economic system? Why?

  9. Assignment • You are to create a flyer for Marx and Engels. It should be catchy so they can use it in their communist movement. • Ex: “Workers of the World UNITE”

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