The Industrial Revolution changed more than just technology and how work is done. It also greatly changed the way money and goods were distributed and most importantly, it changed how people viewed the "rich vs. poor" Most people were proletariat (poor), and others were part of the bourgeoisie. This concept can be quite confusing, so in class we played a game of Rock Paper Scissors. Our game of Rock Paper Scissors included Hershey's Kisses. Most students received three Hershey Kisses. However, there were some students who received ten instead. This shows the unfairness of the game and can relate to Capitalism in the real world. Once we had our candies, we had the freedom to play against who ever we wanted. Whoever lost the game was forced to give up one Hershey kiss to their opponent. Of course, the winner is able to keep the candy they received from their opponent. Each pair only plays once, there is no "2 out of 3". Once a player loses all their candy, they must sit down. Then, the teacher collected the candy and redistributed it. Each student was given three candies, which was fair. Each person could decide whether they wanted to play again and risk their candy, or keep the three candies. This part represented the economic system of Socialism. Then there were no classes and our teacher no longer had to supervise the candy distribution. This is known as Communism. I found this game to be fun because it was a different way to understand capitalism, socialism, and communism. We were able to apply the characteristics of all 3 economic/political systems to our game. The game resulted in an easier way of understanding the three systems. Although the game was fun, it was also frustrating. Some students received more candy than others, which is unfair. This allowed for those students to play longer, and have a better chance of keeping more candies. Also, once I ran out of candy, I was forced to sit down. From there, there was no way to be able to get back into the game.
Karl Marx and Adam Smith greatly relate to Socialism, Communism, and Capitalism. Both men wished to change the lives of the poor, and help them live a more successful lifestyle. However, Marx and Smith had very different approaches at helping the less fortunate. For Marx, an ideal economic system would result in equality for all, a classless society. Also, that value is determined by the amount of work put into whatever is being produced. Capitalism contradicts Marx's ideas, as he often fought against Capitalism. So, instead, Marx said, in order to make things more fair, people would create a government system of socialism. Socialism is much different compared to Capitalism. Socialism is government ownership of industry, rather than private. Economic equality and a classless society is included as well. Resulting from Socialism, Marx said that the majority of citizens would not accept the possibility of divisions between rich and poor any longer. By any means necessary, such as violence, they would create communism. Communism results in a classless society and no government needed at all. Now, this is merely just a theory. Because it is a theory, Karl Marx's ideal society most likely wouldn't ever happen. But, Marx's theory would allow for the poor and the rich to have the same opportunities and to be equal to each other. Marx's theory isn't just communism, but basically the journey to communism. He believes that capitalism and socialism will lead to communism, which will help the poor. On the other hand, Adam Smith had a very different theory. Adam Smith invented "The Invisible Hand" theory. Basically, this a metaphor for a self -regulating economy. People can make profit and money on their own without the government intervening. If the government stops regulating the economy, then the economy will regulate itself. People will act through their own self interest. The poor will have more options and will be able to do what they want. Business owners will realize that they have to reduce prices, so that people will buy their products. Therefore, the proletariat will be able to buy products that are at a good price for them. Smith's theory is pure capitalism. Adam Smith's theory allows for commerce and free trade. This benefits the poor greatly.
In my opinion I don't really think there is a best solution. However, if I were to choose, I think Adam Smith's theory is the best chose. With the Invisible hand, it gives people a chose on the way they want to live their life and make their money. If the government doesn't intervene, then the poor will have more of a chance of pursuing whatever they wish. Also, the Invisible hand gives the rich the opportunity to do what they want to as well. Like I said before, I don't think there is a best solution. It is very unlikely that full equality will be reached. There will always be people who are richer than others, and people who are struggling to be successful. Although difficult, I think creating a system where more jobs are created could be a third alternative. People wouldn't be able to complain if they weren't making money, because people would have the chose to have a job or not. This would be beneficial for the poor and the rich.
Below are two videos that helped me to understand this lesson:
Karl Marx Video:
Adam Smith Video:
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