Luokat: Kaikki - liberalism - capitalism - socialism - competition

jonka L N 11 vuotta sitten

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Capitalism

The principles of capitalism emphasize economic freedom, competition, and personal responsibility, where individuals are primarily responsible for their own economic well-being. Key figures such as Adam Smith have advocated for a free market system, arguing that it benefits both citizens and the nation.

Capitalism

Capitalism

Critisim of Capitalism

Socialism

Created "Scientific Socialism"This is the social, political and economic theory that they developed stating that we should spread wealth so everyone is equal but this idea will not work due to human nature to gain success.

Friedrich Engels
Liberalism
Liberals were against privliges of the upper class and the monarch. Believed that each individual should be equal
Entrepreneurs

Had money thus became a political force

Factory Owners

Key Arguments
Karl Marx

Viewed Capitalism as one stage of human development which would be overthrown

Ricardo

Saw the free market economy as a way to keep workers wagers at a minimum so they could only afford to keep their families alive

Malthus

Believed that wealth would only cause people to have more children resulting in the wealth getting used up and the majority of people would live in poverty, once again

Key Events
Abusive working environments
Luddites

Protest group which would destroy factory machines that took their jobs

Society

Social
Demand for workers

Child

Slave

Profit motive
Upper classes exploit working class
Working class paid to make goods which are sold for a profit
Political
Government played a very small role in Capitalism

Citizens were independant and only relied on themselves for success

Economic
Industrial Revolution

Workers protested because new technolgy was replacing them

Due to Capitalism there was a demand for new materials and efficent methods to complete tasks. To meet these demands new technology and methods were developed to complete tasks.

Mercantilism

Monopolies

Before Capitalism there, this system was in place . Government had power and thought that in order for a country to becoem wealthy they must export more than they import

Free market, which means there is little governemnt restrictions, privately owend businesses and individuals are free to trade as they wish

Key Thinkers

Adam Smith
He descibed how all the values of Capitalism would benefit the citizens as well and the Mother Land
Wrote a book called "An Inquiry into the Nature and Causes of the Wealth of Nations" which introduces the concept of Capitalism (1776)
Advocated an ecomonic system that was free from government control and open to free competition and trade

Values

Consumerism
The attitude of obtaining material goods
Personal Responsibility
People are free to support themselves
Economic-freedom
Each individual is responsible for their own economic well being
Competition
The goal of outpreforming others
Profit
When money is made from a business or product