Defining the Shift
What do we call actions taken by a government to influence or manage the economy?
What is government intervention?
The term used by Karl Marx to describe the industrial working class whose only asset is the labor they sell to an employer.
Who are the proletariat?
This ideology advocates for a peaceful, evolutionary transition from capitalism to socialism through democratic means rather than violent revolution.
What is democratic socialism (or social democracy)?
This economist/philosopher’s ideas evolved into Marxism and the belief that class struggle drives historical change.
Who is Karl Marx (and Friedrich Engels)?
This economic system is mostly private, except for extensive social welfare programs and laws to protect worker safety and well-being.
What is welfare capitalism?
Early British laws passed between 1802 and 1833 that limited the workday for children and set basic safety rules in factories.
What are the Factory Acts?
An ideology based on the belief that the working class must overthrow property owners through revolution to create a classless, stateless society.
What is communism?
Utopian socialism was first introduced in the early 19th century by this French philosopher.
Who is Charles Fourier?
This ideology developed over time to address the inequalities and injustices of a capitalist society while still keeping a focus on individual rights.
What is modern liberalism?
Three primary ways individual workers pushed for change under welfare capitalism.
What are unions, protests, strikes, and voting?
In a pure command or communist economy, production targets set for farms and factories are known by this term.
What are quotas?
A government program meant to ensure a minimum standard of living, such as employment insurance, universal healthcare, or pensions.
What are social programs?
The massive global economic crisis that began with the stock market crash in 1929 and forced governments to step into the economy more heavily.
What is socialism?
In Canada, these types of government-owned corporations are established to serve the common good rather than private profit.
What are Crown corporations?
The core economic difference between a free-market economy and a command economy regarding who controls resources and prices.
individual/market forces (supply and demand) vs. government planning/control?