1. Focus: Was the growth of capitalism beneficial or harmful to early modern European society? Capitalism: An economic system in which private individuals are allowed to conduct their business for the purpose of individual gain and profit. Reasons for he Growth of Capitalism (1600- 1700’s) 1.Population growth and urbanization – more business opportunities and larger markets 2.Stable governments – protect private property

2. True or False 1.Capitalism believes that the government is best suited to make business decisions. 2.The goal of capitalism is to ensure that all people get their equal share of the wealth. 3.Capitalism promotes the idea that people should be able to make a profit. 4.Capitalism believes that competition promotes the best quality for the lowest price.

3. What would be a capitalist opinion about the person in the front?

4. Adam Smith – Scottish Philosopher

5. What are the positive and negative aspects of laissez-faire capitalism? Positive AspectsNegative Aspects

6. ACTIVITY Choose ONE of the following: 1.Write a letter to the editor in which you support or criticize “laissez-faire” capitalism 2.Draw a political cartoon which highlights the harms and/or benefits of laissez-faire capitalism.

7. ECONOMIC 2. Adam Smith’s economic theory advocated A) government intervention in order to control the flow of bullion through extensive tariff systems. B) the use of a controlled money supply as a means of limiting inflation. C) that governments avoid regulation in favor of the operation of individual initiative and market forces. D) the institution of state-controlled guilds to fix standards of production and wages. E) that governments should allocate labor and capital whenever they engaged in warfare.

8. SOCIAL 1. What was the European-style family pattern that emerged in the 15th century? A) Extended families, early marriage ages B) Nuclear families, early marriage ages C) Extended families, late marriage ages D) Nuclear families, late marriage ages E) Extended families, marriage optional