Within a capitalist system, a person's standard of living is supposed to depend upon how able they are and how hard they work. Individuals have the right to make as much money as possible and to keep the money they earn. People are taxed on their earnings but in the USA the level of taxation is low. But not everyone thrives in this system. Some live in poverty and the low levels of taxation mean that there is little healthcare and benefits provision for them - much less than in Britain.
- This clip is from:
- First broadcast:
- 26 October 2007
This clip could be used to explain what is meant by the term 'Capitalism.' Ask students to take notes while the clip plays to report back what they understand by the term 'Capitalism.' Students could also be encouraged to consider the pros and cons of living in a country which has a Capitalist Ideology.