Economic Theories and Social Reforms

The video, led by Mr. Michael, covers the Industrial Revolution's impact on economic theories and social reforms. It discusses key philosophers like Adam Smith, Thomas Malthus, and David Ricardo, and their economic principles. The rise of socialism, utilitarianism, and utopianism is explored, highlighting figures like Robert Owen. Marxism and the class struggle are analyzed, along with comparisons between capitalism, socialism, and communism. The video also covers anarchism, labor unions, and significant social reforms, including the abolition of slavery and women's rights movements.

What is the primary focus of the first part of the video?

• Explanation of lecture slides

• Lecture slides presentation

• Discussion on social reforms

• Analysis of economic theories

According to Adam Smith, what drives people to create better products?

• Law of self-interest

• Law of competition

• Government regulations

• Law of supply and demand

What did Thomas Malthus believe about population growth?

• It would stabilize over time

• It would outpace food supply

• It would decrease due to industrialization

• It would lead to economic prosperity

What is the main idea behind utilitarianism?

• Actions are right if they benefit the majority

• Creating ideal societies

• Government control of production

• Class struggle between social classes

Who established a Utopian community called New Harmony?

• David Ricardo

• Robert Owen

• Adam Smith

• Thomas Malthus

What did Marx and Engels predict in The Communist Manifesto?

• The proletariat overthrowing the bourgeoisie

• The rise of capitalism

• The fall of socialism

• The end of government control

In capitalism, who owns property and businesses?

• Labor unions

• Individuals

• The community

• The government

What is the role of labor unions?

• To promote anarchism

• To represent workers and negotiate for better conditions

• To abolish private property

• To enforce government policies

Which major social reform was achieved through legislation in Great Britain?

• Women's suffrage

• Abolition of slavery

• Child labor laws

• Universal healthcare

What was a key goal of the women's rights movement?

• To promote utopian communities

• To support laissez-faire economics

• To gain equal voting rights

• To establish labor unions