Rock, Paper, Scissors Play in pairs Count 1,2,3 Rock beats scissors Scissors beats paper Paper beats rock Sit down when you are out of candy

Debrief: Rock, Paper, Scissors How did you feel at the start of the game? How did you feel when you ran out of candy and had to quit the game? What tactics could you have used to get back into the game? Why didn’t you try those tactics? Do you think this game was fair? Explain Now that the game is over, what action could Mr. Hernandez or Ms. Landi take, if any, to make the game fair? Should they take action?

Rock, Paper, Scissors Collect all candy Redistribute equally Want to play a final round or keep and eat what you have?

Economic Systems & the Industrial Revolution

Capitalism Maximizes liberty though the emphasis of private profit & ownership Formally established by Adam Smith’s Wealth of Nations in 1776 Everyone is free to purpose any economic activity freedom to succeed or fail Laissez-Fair: gov. should not interfere in the economy UNLESS 1. foreign relations or national defense 2. maintain police and courts Let the poor work hard in order to rise up.

Capitalism Factors of production are owned by the people so they can make a profit Individualism & competition are emphasized as good because they innovation What is produced and how much is produced is decided by supply and demand= market economy There will always be a lower class

Brainpop Adam Smith Let the poor work hard in order to rise up.

Socialism Mix of equality and liberty Concerned with the public’s welfare Cooperation and social responsibility are emphasized as good This is achieved through collective (public) ownership of the factors of production which economic equality There is still some private ownership of property.

Socialism Sometimes gov’t. intervenes in the economy in order to ensure that wealth is distributed equally Gov’t. takes control of some industries while the rest are privately run Centrally planned economy= gov. mostly plans how the economy will develop over a period of years. What is produced and how much depends on what benefits the majority

Socialists Divided All socialists agreed that economic equality needed to be achieved However, they differed on how this should be obtained This led to a split among the socialists. Socialists: economic equality achieved through negotiations, peaceful means, and democracy Communists: change will be too slow. Must have a revolution!

Communism Maximizes equality Created by Karl Marx and Fredrich Engels in the book Communist Manifesto (1848) Economic equality achieved through violent revolution Class struggle workers’ revolt Proletariat (laborers)will overthrow the Bourgeoisie(capitalists)

Communism Gov’t. ownership of the factors of production No private ownership Constant government intervention in the economy to promote equality Gov’t. holds all economic decision making power= command economy Create a classless society Eventually no gov’t needed

Capitalist or Socialist? DBHS Socialist Lemonade stand Capitalist Soup kitchen Gov’t that provides free health care for all Fire Dept. Selling old video games on eBay Yosemite Nat’l Park Tea Rush

Brainpop Communism

Sketch Label the classes Add speech bubbles Karl Marx style Appropriate title Add color