History KS3: Capitalism
This video forms part of a series of short animations to help students gain a deeper understanding of the first order concepts commonly encountered in KS3 history.
After defining the political ideology of capitalism and contrasting it with communism, the video explains that the rivalry between the two was the basis of the Cold War in the second half of the 20th century. It then outlines the basics of free market capitalism and its origins in Adam Smith’s book ‘The Wealth of Nations’. It goes on to look at how the development of capitalism led to the Industrial Revolution and the factory system. Finally, it explains that most modern Western economies are mixed economies, combining free market capitalism and state intervention.
Illustrative examples are chosen from popular schemes of learning so learners will be able to confidently apply their knowledge and appreciate the dynamic nature of the concept being explained.
This Capitalism video could be used to support learners who are investigating:
- Challenges for Britain, Europe and the wider world 1901 to the present day
- The inter-war years: the Great Depression and the rise of dictators
- At least one study of a significant society or issue in world history and its interconnections with other world developments
- USA in the 20th Century
The video can be used for whole class direct instruction or with smaller groups and individuals.
Since the video is designed to help students understand how capitalism works, the clip can be used as a flexible tool to help learners make connections and think about changes and causation leading to similarity and difference across time periods.
The video can be revisited throughout the key stage, depending upon learners’ differing needs and starting points, to help reinforce the umbrella term, consolidate knowledge and understanding and aid progression
Points for discussion
Accompanying videos on Industrialisation and Communism might be helpful to students wishing to know more.
Individually or in groups students, could predict the video content in advance, drawing up a key word list and, whilst watching, cross check what they thought with what they learned. This could help correct any preconceptions, assumptions or misconceptions.
Students could watch this video in conjunction with the Communism video from this series, and draw up a table of similarities and differences between the two ideologies.
The video can be preparatory work, with students encouraged to watch and generate questions before a sequence of learning
Students could initially watch the video and then later ‘write the script’ or provide a voice over, recalling information from memory by way of retrieval practice in a storyboard style.
Students could actively watch the video whilst answering a series of questions generated by the teacher tailored to the period under study. Students could then create a summarising pyramid.
Students could be encouraged to draw a diagram to represent their understanding of how capitalism works in practice.
This short film is relevant for teaching History at KS3 in England, Wales and Northern Ireland and 3rd Level in Scotland.