us_ch4_overview

=**Chapter 4 Overview**= Turn to your daily lesson guide and write your responses in the appropriate lines in the overview:


 * Consumer goods:** List 5 goods that own that you would not want to be without. What was needed FIRST before any labor was involved in making each of these goods? The point is for you to see that the things you possess and own that you wouldn't want to live without having didn't magically appear. Someone had to have an idea and a work ethic to put resources into action to manufacture what you want to own. It's easy to criticize those who have wealth, but what is important is knowing that the opportunity is there for all.


 * Growth of industry:** In terms of the growth of industry, how do you think our country benefits when industry is expanding and technology is improving. How does this improve both the economy and society in terms of our standard of living?

What lesson should be learned from this chapter as well as recently from the above charts in terms of inflation?
 * Lesson to learn:** The chart below shows the amount of money being printed by the federal reserve. In 2009 to the present you'll notice a skyrocketing line in the amount printed and put into circulation. In this time frame, prices on goods have gone up significantly, specifically on food. The second chart shows the value of the dollar versus the price of oil. As dollars are printed and not backed by anything of value and just put into circulation, the value of the dollar declines, which results in increases in prices. This is inflation. Same as with the coining of silver in the late 19th century. The ultimate result is increase in prices. The second chart shows that as the dollar is more valuable (the red line) the lower the price of oil (the blue line). Notice the inverse relationship - as the value of the dollar (red line) goes down, the price of oil (blue line), which we see in gasoline goes up. This is a direct relationship.


 * Unions:** What are some positives and negatives of unions?


 * Capitalism vs. Socialism:** In the Greed vs. Jealousy section, you learned about why arguments developed against the growth of business. You also learned about Karl Marx, who wrote about the overthrow of capitalism and replacing it with socialism and then communism with the redistribution of wealth. However, capitalism has proven much better than socialism since in capitalism all have the opportunity to earn wealth and hard work pays off. In socialism the idea is that wealth is distributed evenly regardless of effort and therefore there is not much incentive to work hard. Communist systems historically have not worked. Hard work will gain success in capitalism whereas socialism leads to more poverty since there is not an incentive to work hard and those willing to work hard will go to a nation that embraces the idea of earning through hard work. What incentive is there in capitalism that is not there in socialism?

The window shows the motto on type "Remold it nearer to the heart's desire." Remold it is talking about the world. The Fabians have heated the world (it looks red) like iron and are hammering it on an anvil to remold it (like iron) - the idea is to remold the world to be more socialistic. On the bottom it shows Fabians bowing to writings of other socialists and communists. Below are two more representations of the Fabians: The Fabians considered themselves wolves in sheep's clothing. A sheep is peaceful and doesn't look to attack or harm. However, the Fabians were wolves - but if they appeared to be revolutionary socialists, most citizens who valued freedom, opportunity, and capitalism would not go along with them. Therefore, they had to appear as sheep - slowly but surely get more and more people relying on the government through more and more government spending and more government programs that people would rely on with higher taxes on those who earn to give to those who don't earn and before anyone realizes it, there's a socialistic system. Another symbol shows how the Fabians aimed to work - turtles are known to be slow moving, but if you're ever bitten by a turtle it hurts and it hurts bad. This metaphor was used by the Fabians that they aimed to slowly bring socialistic ideas into the mainstream. To many committed socialists, this was the way to go. However, for many more committed socialists, this took to long to accomplish socialism.
 * Fabian Socialism:** Fabian socialism is different than socialism to communism described by Karl Marx. Marx talked about a revolution and workers rising up and overthrowing capitalism. There is another idea about socialism that developed in 1884 in England called Fabian socialism, which involves getting socialism to gradually and slowly but surely grow in a society. England as well as America would not allow an overthrow of capitalism since capitalism allows freedom and opportunity. Fabians believed it would be best to achieve socialism by getting the nation to gradually grow the size, power, and reliance on the the government. Below is a stained glass window that is in the London School of Economics that was started by Fabians.

Be sure to know about Fabian Socialism and how they functioned. This will come up again!


 * Agree/Disagree - why?** Do you agree or disagree with this statement - The way to help those in poverty is to make them uncomfortable in their poverty that way they work themselves out of poverty instead of being comfortable with that lifestyle. This statement was made by Benjamin Franklin. Franklin noted that in the nations in which he traveled, the more handouts governments gave to people in poverty, the more poverty grew and the more receiving those handouts from the government locked people into a lifestyle of poverty and relying on the government. Franklin also noted that in nations that the government did less for those in poverty, the less poverty there actually was since people would work themselves out of it.


 * Current Events** - go back to the main Chapter 4 page, scroll down to the video links and click the link for current events. There are two current issue stories. Give your reflection for each in the space in your packet.


 * Chapter Patriot and Chapter Pinhead:** In your opinion, who was the biggest patriot and the biggest pinhead in the chapter and why?


 * Evaluations:** Evaluate each presidential administration from this chapter and explain your evaluation.


 * Journal:** Be sure to answer the course objective questions in the journal.

Use your remaining time to study.

Back to the Chapter 4 main page