The Fascinating Worlds of Capitalism, Communism and Socialism

It’s all aboutthe Invisible

Hand!

Your Invisible HandJust Punched My

Proletariat!

Adam Smith (1723-1790)

Wrote “The Wealth of Nations”Argued against MercantilismPromoted the idea of Laissez-faire capitalismThe Invisible Hand of supply and demand would regulate the economyProsperity is best achieved when individuals act in their own economic self-interest

David Ricardo (1772-1823)

Human labor creates valueCapitalists could force labor to give up part of this valueIron Law of Wages

Pay workers just enough....Increasing population naturally drives wages down

Opposed gov’t aid to the poor

Thomas Malthus (1766-1834)Po ve rty an d fam ine are unavo i dable becau se the population will always out-pace the food supply

Harsh reality: In order to keep the population from exploding, the poor can only be allowed the bare essentials of life

How big is the lifeboat?Herbert Spencer (1820-1903)

The wealthy are naturally superior to the poor

Social Darwinism

Capitalism’s ContradictionsCapitalism can favor a small wealthy elite, called the “Haves,”

but it can also provide opportunities to the “Have Nots” to improve their lot in life.

Capitalism can promote a severe individualistic worldview,

but it can also be the basis for creating strong, humane communities

Questions

Is Laissez-faire Capitalism consistent with Democracy?

What should be done with the losers?

Is Laissez-faire Capitalism consistent with Christianity?

Voices for Change

Slavery and the Slave Trade Must

End!

William Wilberforce

1807: Slave Trade Ended1833: Slavery ended in the British Empire

John Stuart Mill Jeremy Bentham

The UtilitariansSociety should be arranged to secure the greatest happiness for the greatest number of people

Laws should be judged by the extent that they promote happiness and reduce misery

National wealth should be distributed more fairly

The vote should be extended to all, even women

Healthcare and education should be provided to the public

UtilitarianismIs Utilitarianism consistent

withChristianity?

Dude, Can I crash on your couch?

Karl Marx (1818-1883)Friedrich Engels (1818-1883)

Mi Couch es su Couch, Comrade

Marxism 101

Economic DeterminismWhat we do, think, and say is rooted in o u r p a r t i c u l a r economic circumstance

This ain’t no Kumbaya Socialism. This is scientific!

Marxism 101This ain’t no Kumbaya

Socialism. This is scientific!

Dialectic MaterialismHistory was driven by conflict between members of different social classes. History was l o g i ca l l y a n d i n exo ra b ly progressing though var ious sta g e s o n t he way to a communistic society

Georg Hegel

Thesis Antithesis

New Thesis Antithesis

AntithesisNew Thesis

AntithesisNew Thesis

Georg Hegel

Heg e lian D ia le ct icHistory was following a path directed by God. History moved towards this predetermined end though struggle between a Thesis and Antithesis

Communist Utopia

Unorganized Society

Division of Labor and Tribalism

(Era of PrimitiveCommunism)

Empire Barbarians

(Era of Slavery)

BourgeoisieLanded Aristocracy

(Era of Feudalism)

ProletariatBourgeios Democracy

(Era of Capitalism)