2. Capitalism for America Patrick McGlew

3. What is the purpose of Capitalism Makes sure that if you want to have a good job you can have a good job. Different people get different wages depending on how hard they work and the education they get If you have drive and want to get a good job then it is possible because this also allows you to get a better wage.

4. Definition of Capitalism Capitalism-Economic system where the market makes economic decisions; Adam Smith-economy, laissez-faire, “Bill Gates” Laissez-Faire- French for “Hands off”, policy of no government interference in capitalism economic system Entrepreneur-French for big rich guy who starts and runs a business

5. Definition of Communism Communism-Economic system where the government makes economic decisions; Karl Marx, The Communist Manifesto, command economy, all are equal, “Robin Hood” Proletariat- communist for working class that should own the means of production

6. Definition Slide Three Economic Questions- What to produce? Who to produces it? For whom it is produced? Economic System- how a country decides to solve the problem of scarcity (not enough stuff for everyone so it costs…)

7. Positive effects Positive effects of capitalism would be the amount of money that you can make. Ex: If you work to be a brain surgeon you will make more money than a janitor would make. Also it keeps the lazy people from making money that they don’t deserve

8. Negative effects Some people get all the money and others get almost nothing. Ex: The business owners get all the money and also get to set the working conditions and wages for the business workers and they get almost nothing Child labor was a huge negative because children were in the factories and had the possibilities of being injured.

9. Reasons for Capitalism Capitalism makes everyone different because the wages and positions are different The different jobs make people not a lazy because they can make more money if they work for it People that don’t work don’t get the jobs which is fair because if they don’t work they shouldn’t be paid the same.

10. Reasons against Communism Promotes laziness People get paid the same wages regardless of the education that they have or the work that they do. Government makes the decisions on what to make not the people that have the demand of what they buy.

11. Summary Slide Capitalism is a better economic system than communism because it doesn’t not promote laziness. It has different wages and different jobs. Last if you want to have a good job you can get it as opposed to communism where your job doesn’t matter.