Capitalism and Socialism Crash Course World History

The video explores the evolution of capitalism, starting with mercantile capitalism and its global impact, followed by industrial capitalism's rise in Britain. It discusses the cultural shift towards consumerism and critiques capitalism through the lens of socialism, particularly Marx's ideas on class struggle. The video concludes by reflecting on the ongoing competition between capitalism and socialism.

What is one characteristic of capitalism as described in the video?

• It is solely an economic system.

• It focuses only on wealth distribution.

• It discourages innovation.

• It is both an economic and cultural system.

What was a key feature of industrial capitalism?

• Emphasis on local trade.

• Investment in machines and technology.

• Investment in human labor.

• Focus on agricultural production.

Which country was the first to develop industrial capitalism?

• United States

• Germany

• France

• Britain

What was one effect of the agricultural productivity increase in Britain?

• Decrease in consumer goods

• Higher food prices

• More people working in agriculture

• Lower food prices and more disposable income

What cultural change was necessary for capitalism to thrive in Britain?

• A shift towards communal living

• A rejection of consumerism

• Development of capitalist values like risk-taking

• A focus on agricultural self-sufficiency

What role do writers play in the cultural shift towards capitalism?

• They discouraged market participation.

• They publicized capitalist values.

• They focused on agricultural techniques.

• They promoted communal living.

Who was a key figure in critiquing capitalism and advocating for socialism?

• Thomas Munn

• John Cary

• Karl Marx

• Adam Smith

What did Marx believe was the main conflict in capitalism?

• Between government and businesses

• Between capitalists and workers

• Between different nations

• Between different industries

According to the video, what is one reason socialism has not replaced capitalism?

• Capitalism has no critics.

• Socialism is more natural than capitalism.

• Socialism has become a dirty word in some places.

• Socialism offers more material well-being.

What is one ongoing question in the debate between capitalism and socialism?

• Should governments run all businesses?

• Is socialism the only way to achieve equality?

• Is capitalist competition natural and beneficial?

• Should we eliminate all forms of trade?