Preview Activity 1/20, 1/21 Preview Activity: Think back to 1st semester. Describe the basis of Thomas More’s Utopia.

Objective: Tues., Jan. 20th and Wed., Jan. 21st 1. I will know (knowledge): the differences between socialism and capitalism. 2. I will be able to (skill): explain the contributions of scientists and inventors in the latter portion of the Industrial Revolution. Procedure: Rock, paper, scissors activity representing the differences between socialism and capitalism Notes over socialism and capitalism Help the class complete scientist/inventor chart Homework--Chart comparing and contrasting socialism and capitalism

Capitalism and Socialism in the Industrial Revolution

Capitalism Capitalism—an economic system in which individuals or corporations (not the government) control the factors of production

The Assembly Line Division of Labor—each worker is assigned 1 step in manufacturing a product Interchangeable parts—identical parts that can replace each other Mass production—producing large quantities of the same product

Corporations Corporations—groups formed by businesses that allowed people to buy stock in their companies Monopoly—a single corporation controls production or sale of a good or service Cartels—corporations join forces to control every stage of an industry For example: owning iron mines, steel mills, and factories

Socialism Means of production—everything used to produce and exchange goods Examples: railroads, mines, factories, stores, banks, machines In the Ind. Rev., not everyone had access to the same amount of wealth—a few were very rich, but many were poor

Socialism Socialism—gov’t owns the means of production and operate them for the benefit of rich and poor Socialists—anti-competition-everyone has equal access to everything Utopian socialists—people live in small cooperative towns, own the means of production, and share the products

Karl Marx Proletariat—working class Marx said that all wealth is created by the proletariat, but they only get a little bit of it He said that eventually the proletariat would revolt against the wealthy capitalists and seize power by force (Communism)

Exit Ticket Exit Ticket: Which scientist/inventor discussed today made the most significant impact on world history? Why did you choose this person?

Communist Manifesto Questions Who wrote this document? The history of all existing societies is based on what? In the paragraph that begins, “in the earlier epochs” what type of economic system are they describing? According to Marx and Engels, what are the two main classes? The proletariat are made up of which group of people? Which two things have changed the importance of workers? Workers are the slaves to what? How are the workers beginning to organize themselves? Every class struggle is a ______ struggle.