1. Group Economic Chart Fill Out
In your group of 3, each person will become an “expert” on the economic theorist of their choice.
Using pages in your book, fill out your section of the chart.
After everyone in your group is finished, you will share your chart section with your partners.
When sharing, DO NOT let your partners simply copy your chart. Summarize the important points and answers from your chart and verbally tell them the answers so they can fill in their own chart.

2. General Beliefs, Ideas, and Literary Works
Pgs
Adam Smith
Robert Owen
Karl Marx
Economic System
Other Notable Figures
General Beliefs, Ideas, and Literary Works

3. General Beliefs, Ideas, and Literary Works
Answers
Adam Smith
Robert Owen
Karl Marx
Economic System
Laissez-faire / market economy
Socialism
Communism
Other Notable Figures
Thomas Maltus
Andrew Carnegie
Cornelius Vanderbilt
John D. Rockefellar
New Lanark, Scotland
New Harmony, Indiana
Friedrich Engels
General Beliefs, Ideas, and Literary Works
The Wealth of Nations
Laissez-faire: free to do
Business can compete against each other for trade- no regulations
Poverty/poor would not go away
Industry leaders more power than land owners
Entrepreneurs important
All people own property and control industry
Built model town: good conditions, free schooling, fair pay
Education improved character
Utopianism: belief that ideal communities solve problems
Led to social democracy
Das Kapital
Radical view of socialism
More capitalism, more poverty
Poor would rebel, seize means of production
Direct connection between work and pay
Government controls economy and economic planning