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New Ideas - Chapter 24:i -. Adam Smith “Father of Capitalism”. author of Wealth of Nations advocated a policy of laissez-faire (“leave them alone”) - let natural forces of supply & demand to operate (no government interference!) - sellers/buyers act in own self-interest

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New ideas chapter 24 i

New Ideas- Chapter 24:i -


Adam smith father of capitalism
Adam Smith“Father of Capitalism”

  • author of Wealth of Nations

  • advocated a policy of laissez-faire (“leave them alone”)

    - let natural forces of supply & demand to operate (no government interference!)

    - sellers/buyers act in own self-interest

    - businesses compete to produce goods inexpensively (efficient producers will prosper, expand operations, hire more workers, etc.)


Thomas malthus
Thomas Malthus

  • author of An Essay on the Principle of Population (1798)

  • poverty, famine, and misery unavoidable

    - population increasing faster than food supply


[Image source: http://www.fordham.edu/halsall/mod/lect/mod15.html]


David ricardo
David Ricardo http://www.fordham.edu/halsall/mod/lect/mod15.html]

  • “iron law of wages” – rapid population growth leads to:

    - fierce competition for jobs

    - lower wages

    - higher unemployment

    Continual poverty inevitable!


Image source: http://courtneyannemurray.googlepages.com/historyofcapitlism]


The birth of economics the dismal science
The Birth of Economics, http://courtneyannemurray.googlepages.com/historyofcapitlism]“the dismal science”

[Image source: http://graphics8.nytimes.com/images/2007/08/12/business/12view.1901.jpg]


Malthus ricardo
Malthus & http://courtneyannemurray.googlepages.com/historyofcapitlism]Ricardo

  • believed in laissez-faire

  • thought the poor could help themselves by working hard, saving earnings, and having fewer children

    How accurate were the forecasts of Malthus and Ricardo? (Be prepared to explain!)


Evangelicals and reform
Evangelicals and Reform http://courtneyannemurray.googlepages.com/historyofcapitlism]

[Image source: http://roger-williams.net/family_history/william_lee/lord_morpeth.jpg]


William Wilberforce got the British Parliament to outlaw the slave trade in 1807, and slavery throughout the empire in 1833.

[Image source: http://i.telegraph.co.uk/telegraph/multimedia/archive/01179/arts-graphics-2007_1179113a.jpg]]


Lord shaftesbury promoted laws limiting working hours for women and children
Lord Shaftesbury promoted laws limiting working hours for women and children.

[Image source: http://gerald-massey.org.uk/holyoake/images/lord_shaftesbury.jpg]


Utilitarian reformers
Utilitarian Reformers women and children.

[Image source: http://files.libertyfund.org/img/907//lf0353-01_1978v1_figure_023.jpg]


British philosopher Jeremy Bentham believed society should work for “the greatest happiness forthe greatest number” of citizens.

[Image source: http://faculty.cua.edu/pennington/KrakowLectures/Law508/bentham.jpg]


Laws should be judged by
Laws should be judged by: work for

  • their usefulness;

  • whether they advance human happiness; and

  • reduced human misery

[Image source:

http://www.usefulwork.com/shark/justice.jpg]


Bentham’s follower, John Stuart Mill, work for called for the distribution of wealth more justly through taxing income.

[Image source:

http://www.comnet.ca/~pballan/milljs2.jpg]


[Image source: http://www.willamette.edu/~sbasu/poli212/Mill1_files/image055.png]


[Image source: http://media.photobucket.com/image/socialism/tomasutpen/album3/socialism4.jpg]


Socialism
Socialism http://media.photobucket.com/image/socialism/tomasutpen/album3/socialism4.jpg]

  • the belief that the means of production – capital, land, raw materials, and factories – should be owned and controlled by society, either directly or through governments


Robert owen a wealthy welsh manufacturer believed competition caused many of society s problems
Robert Owen, a wealthy Welsh manufacturer, believed competition caused manyof society’s problems.

[Image source: http://www.chorleyhistorysociety.co.uk/robert_owen.jpg]




Prussian philosopher karl marx dismissed the ideas of early socialists as impractical
Prussian philosopher Karl Marx dismissed the ideas of early socialists as impractical.

[Image source:

http://www.communism.co.uk/karl-marx.jpg]


Marx attempted to provide a scientific basis for socialism
Marx attempted to provide a scientific basis for socialism. socialists as impractical.

[Image source: http://friedgreenonions.blogspot.com/2009/01/we-will-bury-you-khrushchev-prophesizes.html]


Due to his radical views marx lived most of his life in exile
Due to his radical views, Marx lived most of his life in exile.

[Image source: http://libcom.org/library/critique-of-the-gotha-program-karl-marx]


In 1844 marx met friedrich engels scion of a wealthy industrialist in paris
In 1844, Marx met Friedrich Engels, scion of a wealthy industrialist, in Paris.

[Image source:

http://forumfilosofia.files.wordpress.com/2007/08/edrich.jpg]


Marx and engels became lifelong collaborators
Marx and Engels became lifelong collaborators. industrialist, in Paris.

[Image source: http://mikeely.files.wordpress.com/2009/01/marx-engels_at_work_together.jpg]


Marx based his teachings on the German philosopher Hegel, who thought that the clash of ideas produced changes and new ideas (and new conflicts!).

[Image source:

https://eee.uci.edu/programs/humcore/images/Antigone/Georg_Hegel.png]


Hegel s triad
Hegel’s Triad who thought that the clash of ideas produced changes and new ideas (and new conflicts!).

[Image source: http://philosophy.blogs.com/mc_philosophy/images/hegel_triad.jpg]


Marx believed history advanced through conflict and that economics was the major force for change
Marx believed history advanced through conflict, and that economics was the major force for change.

[Image source: http://barnsdale.files.wordpress.com/2009/10/class_warfare.jpg]


According to Marx, what emerged was a economics was the major force for change. “class struggle” – the conflict between those who controlled production and those who did the work – which propelled history forward.

[Image source: http://www.worldsocialism.org/spgb/nov04/chartists%20storming%20westgate%20preston%201842.png]


Marx s stages of economic life
Marx’s stages of economic life: economics was the major force for change.

People produce what they need

1. Primitive

Advent of tools make surpluses possible (people became exploitable)

2. Slavery

3. Feudal

4. Capitalist


In marx s view history was a struggle between the haves and have nots
In Marx’s view, history was a struggle between the economics was the major force for change.“haves” and “have-nots”.

[Image source: http://www.marxists.org/archive/marx/works/1852/18th-brumaire/pics/barics2.gif]


[Image source: http://fc03.deviantart.net/fs44/f/2009/064/6/0/Karl_Marx__The_Prophet_by_Latuff2.jpg]


Marx believed the makers of goods the proletariat was the true productive class
Marx believed the makers of goods – the http://fc03.deviantart.net/fs44/f/2009/064/6/0/Karl_Marx__The_Prophet_by_Latuff2.jpg]proletariat – was the true productive class.

[Image source: http://zetetics.us/images/worker.gif]


The bourgeoisie or middle class exploited the proletariat by owning the means of production
The http://fc03.deviantart.net/fs44/f/2009/064/6/0/Karl_Marx__The_Prophet_by_Latuff2.jpg]bourgeoisie, or middle class, exploited the proletariat by owning the means of production.

[Image source: http://75.24.205.227/guenther-history/westernciv2/Nationalism%20Romanticism%20Realism%20Images.htm]


“Let the ruling classes tremble at a Communist revolution. The proletarians have nothing to lose but their chains. They have a world to win. Working men of all countries, unite!”

[Image source: http://www.popsiclesandgrenades.com/wp-content/uploads/2009/01/manifest-hope-workers-rights-poster.jpg]

The Communist Manifesto (1848)


[Image source: http://z.hubpages.com/u/757096_f260.jpg] The proletarians have nothing to lose but their chains. They have a world to win. Working men of all countries, unite!”


Marx developed his ideas further in the work das kapital
Marx developed his ideas further in the work The proletarians have nothing to lose but their chains. They have a world to win. Working men of all countries, unite!”Das Kapital.

[Image source: http://www.marxists.org/history/etol/writers/swabeck/1959/xx/capital.jpg]


[Image source: http://www.southtexascollege.edu/nilsson/4_GB_Internet_Activities/4_IA_HumanPopGrowth.html]


What is the message of this political cartoon and of the cartoons that follow
What is the message of this political cartoon, and of the cartoons that follow?

[Image source: http://www.marxists.org/subject/art/visual_arts/satire/marx/marx1.jpg]


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