When Capitalism is Great and Not-so-great

Curated and Reviewed by Lesson Planet

Comparing and contrasting Capitalism and Socialism, this lecture outlines many nuances between the two economic systems, including the ideas of meritocracy and "fairness." A discussion about the effects of either system gone "unchecked" begins after the narrator discusses the basic elements of each. Though the narrator does not claim to present a comprehensive list of pros and cons, this video would be a great starting point to a topical discussion in a history or economics class.

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Concepts

innovation, inventions, capitalism, economics, inheritance, monopolies, socialism, the economy

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