1. Capitalism Vs. Communism
Macdonald
World History

2. Rock, Paper, Scissors Rules: Winner gets one paper clip from partner
Need at minimum ONE paper clip to stay alive
More = better

3. ROUND 1

4. How did you feel at the start of the game?
Do you think this game is fair? Why or why not? State your reasons.
Now that the game is over, what action could the teacher take, if any, to make the game fair? Should the teacher take such an action? Why or Why not?

5. ROUND 2

6. How did you feel at the start of the game?
Do you think this game is fair? Why or why not? State your reasons.
Now that the game is over, what action could the teacher take, if any, to make the game fair? Should the teacher take such an action? Why or Why not?

7. Economic Systems
Capitalism
Communism

9. Capitalism
Economic system based on ppl investing money in business w/ goal of making profit
Adam Smith wrote Wealth of Nations to support capitalism
Depends on laissez faire (without gov’t interference) policies

10. Capitalistic Beliefs Opposed gov’t efforts to help poor
Believed these would lower profits & upset market
No minimum wage
No unemployment
No laws about working conditions, working ages

11. Communism
Many ppl believed capitalism & industrialization caused many problems in society & would cause revolutions of workers
Karl Marx & Freidrich Engels wrote Communist Manifesto that outline beliefs and became basis of Communism

12. Communist Manifesto
Societies always divided into two warring classes – workers (proletariat) & owners (bourgeoisie / capitalists)
Industrial Revolution made rich richer & poor worse off
More proletariat than bourgeoisie, so eventually proletariat would join together and overthrow the bourgeoisie

13. Communism
Result would be a “dictatorship of the proletariat” where the working class takes control
They would share all property, including factories, housing, profits, etc. equally
This final phase of community property & sharing of profits would be called communism

14. Communist Beliefs
In practice, usually communist gov’ts have state controlled businesses
Gov’t makes all economic decisions, not individual ppl

15. Reality
Today there are NO true capitalistic societies as well as NO true communist societies.
Most capitalistic societies have programs to aid people in need
Most communist societies are in reality dictatorships that restrict the rights of people

16. DCT
Write a paragraph explaining positives and negatives of both capitalism and communism.

17. Laws of Economics Based on Smith’s laws of economics:
Self-interest (ppl work for own good)
Competition (forces ppl to make better product)
Supply & demand (ensure correct amount of goods)