Capitalism v. Socialism Handout - Economic Spectrum

Capitalism v. Socialism Handout - Economic Spectrum
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Product Description
This handout explores the two competing economic schools of capitalism and socialism. One page, two-sided. The first page is previewed.

This handout represents a complete class period (when combined with sufficient class discussion). Great for economics, world history, US history, and European history courses.

Ideas explored:
*Represents a country's economy as a sliding scale which could range from extreme capitalism (for example, without a welfare state or progressive taxes) to extreme socialism (for example, with no private businesses or private property).
*Represents most countries as having "mixed economies."
*Failed utopian experiments - examples of the failures of complete socialism (New Harmony experiment) and complete libertarianism (Christiania experiment).

Back side:
*Examples of mixed systems - analyzing the USA, Venezuela, UK, and China.
*Major takeaways - represents that the best functioning systems (both in terms of wealth creation and social justice) implement ideas from both schools of thought.
*Prophets of utopias - Karl Marx (socialism), Ayn Rand (libertarianism).
Total Pages
2 pages
Answer Key
N/A
Teaching Duration
50 minutes
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