Adam Smith and Capitalism

Slides:



Advertisements
Similar presentations
Capitalism. Characteristics of Capitalism Land and capital are privately owned. (They are not owned by the government.) Land and capital are privately.
Advertisements

Capitalism, Socialism, and Communism
Capitalism, Socialism, and Communism. Capitalism “It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but.
Aim: What philosophies come from the Industrial Revolution?
“Invisible hand principle”
Aim: In what ways do Communism and Capitalism Differ?
Question 1 What is an economic policy of letting owners of industry and business set working conditions without interference? A. Capitalism B. Laissez.
Warm Up Activity Make a list of all that you know about the concept of Liberalism.
A Tale of Two Economists
Karl Marx-History is a record of class struggle between the “haves” and “have nots”. The haves control the means of production (key industries). The have-
Capitalism. Free Enterprise is the freedom of individuals and businesses to operate and compete with a minimum of government interference or regulation.
R EFORMING THE I NDUSTRIAL W ORLD Section 4 Ch. 25.
19th Century Economics edit from same title by WBPhillips.
Adam Smith. Big Idea? The Government should stay OUT of the economy! Free Enterprise Capitalist System.
UNIT 7 PAGES OVERVIEW OF THE US ECONOMY. OVERVIEW OF BASIC ECONOMIC SYSTEMS Traditional : based on customs and traditions Command : government.
ECONOMIC SYSTEMS An economic system is an organized way a society provides for the wants and needs of its people, or how a society answers the three basic.
Aim: Identify thinkers and ideas that supported industrialization
Philosophers of Industrialization Pages YOU NEED YOUR NOTEBOOKS TODAY!! Silently define the following words in your notebook. Use the glossary.
Capitalism. Adam Smith ( ) £ Appointed to the chair of logic in 1751 at the University of Glasgow, Scotland. £ 1776  The Theory of Moral Sentiments.
 Central Gov’t makes all decisions on the production and consumption of goods and services  No competition among businesses  No incentive for workers.
Capitalism, Socialism, and Communism
Economic Theory Influence of Enlightenment Thinking
Economic Systems and Economic Factors
Factors of Production -Capital or Capital Goods---the money or tools needed to produce goods/services -Land / Resources– the natural resources needed.
DO NOW What is the difference between micro and macroeconomics? Explain.
Capitalism Socialism Communism
Communism v. Capitalism
Free Enterprise is the freedom of individuals and businesses to operate and compete with a minimum of government interference or regulation. Capitalism.
Warm Up (use the graph to answer the questions)
Capitalism.
“Invisible hand principle”
How does Adam Smith’s Capitalism work as an economic system?
Adam Smith Scottish economist, who used reason to analyze economic systems.
Economic Systems Capitalism, Socialism & Communism
Economic Systems Review
Adam Smith.
Capitalism Communism Philosopher(s) and year Key Ideas Driving Force
Adam Smith & Capitalism
Capitalism.
Socialist Thought Emerges
Ms. Susan M. Pojer Horace Greeley HS Chappaqua, NY
Grab your notebook In back – by windows
Unit 1: Foundations of Government
Capitalism.
Writing Assignment minimum 1 page
As in…Liberalism, Utilitarianism, Socialism, Communism, and Capitalism
Capitalism vs. Socialism
New Economic Ideas for the Industrial World
Philosophers of Industrialization
Industrial Revolution
Unit 7: Economics & Choices
Economic Systems of Industrialization
Agenda Warm Up Industrialization Project Fair or Unfair Candy
Capitalism, Communism, and Reform
Why 1. Why do you think Dr. X is trying to find a cure for AIDS. 2
Economic Changes Today I will identify the changes made to European economies as a result of the Enlightenment.
Economic Systems Capitalism, Socialism & Communism
Economic Systems.
Reforming the Industrial World
Capitalism & Socialism
An Age of Reforms-New Economic Systems
Aim: How are Capitalism and Communism different?
Reforming the Industrial World
Goal 7: Economics & Choices
How liberals and socialist were alike and different in the 19th century Edward Chris Ricky.
The dominant economic system in the world
Economic Systems Capitalism, Socialism & Communism
Capitalism vs. Socialism
Economic and Political –isms
BASIC ECONOMICS Arctic Survival – (Round 1)
Presentation transcript:

Adam Smith and Capitalism

Adam Smith If individuals work for their best interests, the world will be orderly and progressive Major contribution is the idea of laissez faire capitalism- capitalism without any government interference in the economy Against helping poor workers Invisible hand regulates economy 1723-1790 Came up with the idea for capitalism, economic system in which money is invested in business ventures with the goal of making a profit Our economic system If government allows free trade, everyone prospers

Feedback: Privacy Policy Feedback
Do Not Sell My Personal Information
About project: SlidePlayer Terms of Service

© 2024 SlidePlayer.com Inc. All rights reserved.