Overview
What is socialism? Why is it gaining popularity with young people? Can government direction truly manage millions of economic decisions? There are many misconceptions or “myths” about socialism. This segment explores and debunks some of those myths.

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Grade level and subjects
• Recommended for grades 6-12
• Subjects: Economics
• Works in Classroom, Hybrid, and Homeschool settings

What students will learn
By the end of this lesson, students will be able to:
• describe the basic concepts of socialism and capitalism;
• summarize the myths presented in this video;
• analyze whether the myths presented are truly myths; and
• evaluate the impact on citizens when socialism fails.

Key concepts and terms covered
Capitalism, Catastrophe, Communism, and Socialism.

Sample discussion questions
• What is socialism?
• What happened in Venezuela when socialism was implemented? How did it impact the common people of the country?
• If a politician promotes socialism in America, why might people vote for that politician?
• Powell mentions that in a market economy, everybody’s little adjustments get tested and we get to see what works. What does that mean?
• At the end of the video, an actress says, “Democratic Socialism is your kid’s public school.” Why might that be considered a form of socialism?

What’s in the free teacher’s guide
This printable 8-page Teacher's Guide includes a lesson description, learning objectives, key vocabulary, a fill-in viewing guide with answer key, discussion and analysis questions, and classroom activities.

Standards alignment
Aligned to state standards — use the SITC Standards Tool to match this video to the standards in your state.