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The Fascinating Worlds of Capitalism, Communism and Socialism
It’s all aboutthe Invisible
Hand!
Your Invisible HandJust Punched My
Proletariat!
Adam Smith (1723-1790)
Wrote “The Wealth of Nations”Argued against MercantilismPromoted the idea of Laissez-faire capitalismThe Invisible Hand of supply and demand would regulate the economyProsperity is best achieved when individuals act in their own economic self-interest
David Ricardo (1772-1823)
Human labor creates valueCapitalists could force labor to give up part of this valueIron Law of Wages
Pay workers just enough....Increasing population naturally drives wages down
Opposed gov’t aid to the poor
Thomas Malthus (1766-1834)Po ve rty an d fam ine are unavo i dable becau se the population will always out-pace the food supply
Harsh reality: In order to keep the population from exploding, the poor can only be allowed the bare essentials of life
How big is the lifeboat?Herbert Spencer (1820-1903)
The wealthy are naturally superior to the poor
Social Darwinism
Capitalism’s ContradictionsCapitalism can favor a small wealthy elite, called the “Haves,”
but it can also provide opportunities to the “Have Nots” to improve their lot in life.
Capitalism can promote a severe individualistic worldview,
but it can also be the basis for creating strong, humane communities
Questions
Is Laissez-faire Capitalism consistent with Democracy?
What should be done with the losers?
Is Laissez-faire Capitalism consistent with Christianity?
Voices for Change
Slavery and the Slave Trade Must
End!
William Wilberforce
1807: Slave Trade Ended1833: Slavery ended in the British Empire
John Stuart Mill Jeremy Bentham
The UtilitariansSociety should be arranged to secure the greatest happiness for the greatest number of people
Laws should be judged by the extent that they promote happiness and reduce misery
National wealth should be distributed more fairly
The vote should be extended to all, even women
Healthcare and education should be provided to the public
UtilitarianismIs Utilitarianism consistent
withChristianity?
Dude, Can I crash on your couch?
Karl Marx (1818-1883)Friedrich Engels (1818-1883)
Mi Couch es su Couch, Comrade
Marxism 101
Economic DeterminismWhat we do, think, and say is rooted in o u r p a r t i c u l a r economic circumstance
This ain’t no Kumbaya Socialism. This is scientific!
Marxism 101This ain’t no Kumbaya
Socialism. This is scientific!
Dialectic MaterialismHistory was driven by conflict between members of different social classes. History was l o g i ca l l y a n d i n exo ra b ly progressing though var ious sta g e s o n t he way to a communistic society
Georg Hegel
Thesis Antithesis
New Thesis Antithesis
AntithesisNew Thesis
AntithesisNew Thesis
Georg Hegel
Heg e lian D ia le ct icHistory was following a path directed by God. History moved towards this predetermined end though struggle between a Thesis and Antithesis
Communist Utopia
Unorganized Society
Division of Labor and Tribalism
(Era of PrimitiveCommunism)
Empire Barbarians
(Era of Slavery)
BourgeoisieLanded Aristocracy
(Era of Feudalism)
ProletariatBourgeios Democracy
(Era of Capitalism)