9/12/11Obj: Define and discuss capitalism, laissez-faire, and Social Darwinism.

Warm Up: Think back to US IWhat were the main social and economic

differences between the North and South?

Just a few notes…

• Capitalism: economic system where private citizens own businesses and competition determines prices

• Laissez-faire economics: government does not try to regulate or control business “hands off”

• Social Darwinism: survival of the fittest. Some individuals are meant to be wealthier than others.

In your groups, discuss. I recommend that you record the questions, you don’t have to record your responses.

• Is Social Darwinism true? Or was it a way for rich guys to get out of being considerate of the poor?

• Is the concept of Social Darwinism anti-American? Remember, the Founders said we were “all created equal.”

• Capitalism depends on people going out to spend money…what happens to the economy when people don’t spend money?

• Do you agree with Laissez-faire? Should the government never regulate or watch over businesses? What do you think would happen if business owners were allowed to do whatever they wanted to?

A Few Things to Remember

• When you think of Capitalism, think of the explorers moving West…exploration only works if we keep traveling and gaining more land

• Capitalism only works if we continue to buy more items or start more businesses

• If things stand still, there is no growth and the economy fails

Exit ticket.

• On your note card, write your name and response to this question.

• During this time, the poor and working class outnumbered the wealthy. How do you think these groups will react to Social Darwinism? How can they fight back? Make a prediction.