Capitalism Basics
This Scottish economist wrote The Wealth of Nations, the foundational text of capitalist thought.
Who is Adam Smith?
This inequality increases when wealth becomes concentrated among a small group of people.
What is the wealth gap (or wealth inequality)?
These two thinkers wrote The Communist Manifesto in 1848.
Who are Karl Marx and Friedrich Engels?
This country is the largest communist nation in the world today.
What is China?
Capitalism values free markets and private ownership; communism values this instead.
What is collective ownership (or shared resources)?
The word revolution comes from this Latin word. Bonus points of you can tell me the meaning.
What is volvere? What is to turn or roll?
Adam Smith uses this metaphor to describe how self-interest unintentionally benefits society by guiding the market.
What is the invisible hand?
In the 1700s–1800s, these dangerous, polluted workplaces employed adults and children for long hours.
What are factories during the Industrial Revolution?
Marx said workers become separated from their work as industries develop, calling this separation “alienation” from jobs that make the owner of these things richer.
What are the means of production?
Mao Zedong’s attempt to quickly industrialize China, which instead caused famine, was called this.
What is the Great Leap Forward?
Both systems have been criticized for creating inequalities in this, referring to power and wealth.
What are social divisions? (Class divisions)
The word oppression can be broken down into the prefix "op-" and the root premere. Explain the definition
These two forces govern prices in a market economy.
What are supply and demand?
Where did this 2010 environmental disaster happen, which was caused by a BP oil rig explosion linked to cutting safety corners for profit.
What is the Gulf of Mexico oil spill?
What are the means of production?
Who are the bourgeoisie?
This violent campaign in China, begun in 1966, encouraged people to attack those seen as “disloyal” to communist ideology.
What is the Cultural Revolution?
Capitalism can encourage innovation through this struggle among businesses.
What is competition?
The modern usage of the French word "bourgeois" that means classy or fancy.
What is "bougie"?
This term refers to the right to own things such as land, machines, or businesses.
What is private property?
70% of this type of pollution is caused by the top 100 countries. It is caused when certain gasses are trapped in the earth's ozone layer.
What are greenhouse gasses?
Marx and Engels believed this dramatic change—“a complete and forceful” one—was required to end oppression.
What is revolution?
This Cuban leader came to power in 1959 and expanded literacy and healthcare but restricted political freedoms.
Who is Fidel Castro?
Communism assumes people will put this above personal interest—often a reason it fails in practice.
What is the common good (or society’s needs)(Helping others)?
What are community, commune, communal ?
This problem occurs when profits rise for business owners but workers receive low wages and unsafe conditions.
What is worker exploitation?
Most capitalist countries today fall into this category, where both the market and the government influence the economy.
What are mixed economies?
Policies such as ending inheritance, free education, and state control of transportation were designed to move society toward this ideal state.
What is a classless society?
Cuba’s economy struggled due to central planning, mismanagement, and these U.S. economic restrictions. What are they called?
What are U.S. sanctions?
The ability of both systems to influence countries worldwide over time is referred to as this type of impact.
What is global legacy? What is global influence?
What is the Latin root in Capitalism? What are its two definitions?
What is capital? What are "head" and money?