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Venezuela vs. Chile
Overview
Does capitalism “suck”? Does socialism work better? Why do so many people support socialism? This segment looks at the effects of socialism in Venezuela and contrasts it to Chile, considered one of South America’s most prosperous countries.
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Lesson Insights
Grade level and subjects
• Recommended for grades 6-12
• Subjects: Government and Economics
• Works in Classroom, Hybrid, and Homeschool settings
What students will learn
By the end of this lesson, students will be able to:
• discuss political and economic changes that impacted Venezuela and Chile;
• compare and contrast conditions in Venezuela and Chile; and
• weigh the effects of socialism and market reforms on a country and on the citizens of that country.
Key concepts and terms covered
Socialism, Government control, and Free Market.
Sample discussion questions
• When we judge what people do, what they stand for, should we judge their intentions or the effects of the policies they advocate? Explain.
• John Stossel said that fifty years ago, Chile was poor. How did it turn around?
• How does the phrase “Facts should dictate opinion, not the other way around” relate to the debate over socialism and capitalism?
• Marian Tupy said that free trade benefits everyone. Is trade a win-win deal? Doesn’t someone win and someone lose in a trade? If it were win-lose, why would people voluntarily trade if they were going to lose?
• What did Marian Tupy mean when he said that people should have learned from the collapse of communism in Eastern Europe?
What’s in the free teacher’s guide
This printable 12-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.