1. Or, …Do as I say, not as I don’t say… Chapter 2, Section 2

2.  Some kids get A’s, more get B’s and C’s, and some get D’s or F’s  So to help all together, we guarantee that with a modicum of effort, all will receive the same…  And those who cannot do anything will also receive their HS diploma

3.  Centrally-planned economy – a system in which government leaders make all economic decisions Socialism – economic system in which government owns all or most of the means of production, and answers the 3 economic questions Communism – “authoritarian socialism” – more a political system with socialist economy

4.  Author of The Communist Manifesto (1848)  Capitalism is simply workers (proletarians) exploited by the ownership class (bourgeoisie)  Rising tension between these classes was inevitable; would lead to overthrow of the bourgeoisie  Establishment of a “classless”, hopefully “stateless” society  Established the idea of socialism – public (government) ownership of MoP, answers all questions about production  From each according to his ability, to each according to his need

5.  There aren’t many left…why?  The former Soviet Union from the 1910s to 1989 was one example  North Korea and Cuba are modern examples of MOSTLY command economies  These economies struggle to provide for their people…

6.  Inability of centralized planners to effectively make decisions on prices and production  Impossible for anyone to know all of the factors which go into the millions of things that can be bought and sold  Lack of profit motive  Little motivation to work; in fact, the “rational” behavior would actually be to NOT work hard