KChen Laissez Faire Lesson Worksheet (1)
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School
Harvard University *
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Course
E-320
Subject
Political Science
Date
Dec 6, 2023
Type
docx
Pages
5
Uploaded by AgentElement12891
Name: ____________________ Class: ___________________ Date: ________________
Skills: Analyzing/Drawing Conclusions
Vocabulary: Laissez-Faire; Survival of the Fittest; Private Property; Free Market; Capitalism; Competition; Entrepreneur; Deregulation
Warm-Up
: Two students get into an argument at school that escalates and eventually leads to the breakup of their friendship.
Should their teachers get involved? Explain
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What are the pros and cons to this situation?
Pros to him getting involved: _____________________________________________________________
Cons: ________________________________________________________________________________
Mini Lesson: How can we unpack the meaning of laissez-faire and related concepts, and how should we assess their effects on 19th-century America?
Part I: Vocabulary Analysis
Competition: rivalry or battle among individuals, groups, or organizations Survival of the Fittest: The view that in the environment of business, businesses that are best adapted to the marketplace are more likely to thrive and succeed, while those that are less well-adapted may struggle or
fail
Entrepreneur: An individual who initiates, organizes, and manages a business, often taking on financial risks in the hope of achieving profit and
success
Private Property: Items like money and land which individuals have the legal right to possess, use, and transfer freely.
Free Market: An economic system in which transactions between buyers and sellers take place without significant government intervention or regulation. Also known as Capitalism
Deregulation: Reducing or removing government regulations on industries
or markets in order to promote competition and efficacy
Laissez-Faire: A French term that translates to "leave it alone." In economics and politics, it refers to a philosophy of minimal government intervention in the economy. Laissez-faire advocates believe that markets should operate with little to no government interference.
Part II: Political Cartoon Analysis
1. The men called the “Bosses of the Senate” standing at the back of the Senate chamber are very big as compared with the tiny senators. This symbolizes their immense power.
2. Those bosses have the Senate and the US government under their control. The senators have to listen to their commands at every moment. (Under Laissez-faire, government does not influence Big Business, but Big Business influences the government.)
3. (Quick Check) According to this document, does the author support the philosophy of Laissez-Faire? (Use the author’s depiction of the bosses’ appearance to guide your response)
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Work-Period: Review the documents provided and answer the questions that follow. Use the highlighted sentences as clues for understanding the author’s point of view.
Document One:
1. Calvin Coolidge was President during the 1920s, also know as the “boom times” when the economy was functioning exceptionally well. According to the document, what is Coolidge’s attitude towards Laissez-faire? Explain.
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2. If Coolidge had been president in the age of Vanderbilt and Rockefeller, would he have favored regulating their industries using governmental legislation? Why or why not?
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Document Two:
1. Eugene V. Debs was a prominent American socialist and labor leader in the late 19th and early 20th centuries. Judging from his words, do you think Debs supports Laissez-faire? Explain.
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2. Would Debs consider Vanderbilt and Rockefeller captains of industry or robber barons? _____________________________________________________________________________________
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