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New Thinking Chapter 7.4 Ms. Ramos. Laissez- Faire Ms. Ramos.

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Presentation on theme: "New Thinking Chapter 7.4 Ms. Ramos. Laissez- Faire Ms. Ramos."— Presentation transcript:

1 New Thinking Chapter 7.4 Ms. Ramos

2 Laissez- Faire Ms. Ramos

3 Legacy of Smith Free market produces goods at lower price Capitalist reinvest Free market help all– not just rich arch/research_wealth310.gif Ms. Ramos

4 Thomas Malthus Predicted population would outpace food supply –Urged fewer kids 1800s- food supply grows faster Living conditions improve- people have less kids No govt aid to poor s/v1001/images/malthus.jpg Ms. Ramos

5 David Ricardo “Iron law of wages” –Wages up, families more kids –Prob: more kids =greater labor supply –Led to lower wages & unemployment No hope working class escape poverty No govt aid to poor d=2794583&hero=yes Ms. Ramos

6 Utilitarian Ms. Ramos

7 Jeremy Bentham “greatest happiness for the greatest number” Need for govt involvement Ms. Ramos

8 John Stuart Mill Actions right if promote happiness, wrong if cause pain Govt step in to improve hard lives of workers Give vote to workers & women Most middle class rejects Mill /jsm1.jpg Ms. Ramos

9 Socialism Ms. Ramos

10 Socialism Theory People as a whole own & operate means of production Want developed world –Society operate for benefit of all, not just wealthy Ms. Ramos

11 Utopians- Thomas More Ideal community- early socialist If no diff btwn rich & poor, no fighting Ms. Ramos

12 Robert Owen Set up model community- New Lanark, Scotland Worked for: –Laws to limit child labor –Encouraged labor unions rt_owen.jpg/33310453 Ms. Ramos

13 Ms. Ramos

14 “Scientific Socialism” Ms. Ramos

15 The Communist Manifesto Karl Marx Friedrich Engels Communism- form of socialism Class struggle btwn employers & employees unavoidable Ms. Ramos

16 Karl Marx Engels Ms. Ramos

17 Marxism Economics driving force in hist. “haves”- own means of production (bourgeoisie) “have nots”-working class (proletariat) Ms. Ramos

18 Predictions Proletariat triumphant –Would take control of means of production –Set up classless, communist society Despised capitalism Ms. Ramos

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