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World Civilization Capitalism and Socialisn
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Enhance your understanding of economic systems with a comprehensive note on capitalism and socialism! This document explores the core principles, historical development, and key figures associated with each system. It analyzes the impact of capitalism on global trade, industry, and society, while a...

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  • October 15, 2024
  • 1
  • 2023/2024
  • Class notes
  • Osborn
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Crash Course World History Episode #33:
Capitalism and Socialism

1) Besides being an economic system, what other type of system is
Capitalism?
Cultural system
2) What did Joint Stock Companies help finance?
Bigger trade missions & international trade

3) Industrial Capitalism is an economic system that relies on investment in
what two things?
Machines & technology
4) What are the downsides of capitalism that people think about?
Long hours, low wages, child labor, harsh conditions, employed stances,
etc.
5) What advantages did Britain have that helped Industrial Capitalism
develop there?
Dominant power of the sea, made good money from colonies, growth of
capitalism due to civil arrest from the civil war.

6) What are capitalist values that John Green mentions?
Taking risk & appreciating innovation. The people who worked for
this were good at promoting.

7) What was the perhaps the most important idea that developed?
Men and women were consumers as well as producers, the desire to
consume and produce would spur economic growth.
8) What were two ways that workers reacted to bad working conditions?
Organizing into labor unions, and socialism.
9) Where did socialism, as an intellectual concept, start?
France

10) Who was considered the “father of communism”- but was, above all, a
philosopher and historian?
Karl Marx

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