9/12/11 Obj: Define and discuss capitalism, laissez-faire, and Social Darwinism. Warm Up: Think back to US I What were the main social and economic differences between the North and South?

Just a few notes… Capitalism: economic system where private citizens own businesses and competition determines prices Laissez-faire economics: government does not try to regulate or control business “hands off” Social Darwinism: survival of the fittest. Some individuals are meant to be wealthier than others.

In your groups, discuss. I recommend that you record the questions, you don’t have to record your responses. Is Social Darwinism true? Or was it a way for rich guys to get out of being considerate of the poor? Is the concept of Social Darwinism anti-American? Remember, the Founders said we were “all created equal.” Capitalism depends on people going out to spend money…what happens to the economy when people don’t spend money? Do you agree with Laissez-faire? Should the government never regulate or watch over businesses? What do you think would happen if business owners were allowed to do whatever they wanted to?

A Few Things to Remember When you think of Capitalism, think of the explorers moving West…exploration only works if we keep traveling and gaining more land Capitalism only works if we continue to buy more items or start more businesses If things stand still, there is no growth and the economy fails

Exit ticket. On your note card, write your name and response to this question. During this time, the poor and working class outnumbered the wealthy. How do you think these groups will react to Social Darwinism? How can they fight back? Make a prediction.