5.4 new ways of thinking.ppt
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FREE MARKET
NO GOVERNMENT
Thomas Malthus & David RicardoPopulation increase would lead to
shortage of food.Encouraged people to have less kids
as a solution.Best cure for poverty was not govt.
Adam Smith The Wealth of
Nations
Government should not
interfere in the free operation
of the economy.
CAPITALISM – system where private owners
control industry for their own profits.
5.4 New Ways of Thinking
I. Laissez-Faire Economics• Adam Smith - The Wealth of
Nations• Government should not interfere in
the free operation of the economy.• Thomas Malthus & David Ricardo Population increase would lead to
shortage of food. Encouraged people to have less kids
as a solution. Best cure for poverty was not govt.
• CAPITALISM – system where private owners control industry for their own profits.
Utilitarianism – the idea that the goal of society should be “the greatest happiness for the greatest number” of its citizens.
Jeremy Bentham •Called for some government involvement. •Believed laws should benefit society.
5.4 New Ways of Thinking
II. Utilitarians For Limited Government
III. Socialist Thought Emerges
• Utilitarianism – the idea that the goal of society should be “the greatest happiness for the greatest number” of its citizens.• Jeremy Bentham • Called for some government
involvement. • Believed laws should benefit society.
Share work and property.
Utopians believed that if there were no rich or poor, fighting would
end.
Socialism – theory that the means of production should be regulated by the community as a whole.
5.4 New Ways of Thinking
II. Utilitarians For Limited Government
III. Socialist Thought Emerges
• Utilitarianism – the idea that the goal of society should be “the greatest happiness for the greatest number” of its citizens.• Jeremy Bentham • Called for some government
involvement. • Believed laws should benefit society.
• Socialism – theory that the means of production should be regulated by the community as a whole.
5.4 New Ways of Thinking • Share work and property.
• Utopians believed that if there were no rich or poor, fighting would end.
Communism– form of socialism where all means of production belongs to the community.
Bourgeoisie (fancypants) “haves”Proletariat (working class) “have nots”Marx LegaciesoAcceptance of his ideas led to revolutions around the worldoOver time his ideas proved to be a failure. Nationalism won over communism.
5.4 New Ways of Thinking • Share work and property.
• Utopians believed that if there were no rich or poor, fighting would end.
IV. Karl Marx Influences• Communism– form of socialism where all
means of production belongs to the community.
• Bourgeoisie (fancypants) “haves”Proletariat (working class) “have nots”
Marx LegaciesoAcceptance of his ideas led to revolutions around the worldoOver time his ideas proved to be a failure. Nationalism won over communism.