CAUSES OF THE INDUSTRIAL REVOLUTION The Industrial Revolution.
Industrial Revolution Economic and Social Changes.
Transcript of Industrial Revolution Economic and Social Changes.
Industrial RevolutionIndustrial Revolution
Economic and Social ChangesEconomic and Social Changes
MonopolyMonopoly
►Total control of a product or marketTotal control of a product or market►No CompetitionNo Competition► Illegal todayIllegal today►Examples ??Examples ??
Government RegulationGovernment Regulation
►Long hours, unsafe working conditions, Long hours, unsafe working conditions, low pay…..unions called for gov’t helplow pay…..unions called for gov’t help
►Business owners wanted ‘laissez-faire’ Business owners wanted ‘laissez-faire’ approach (hands off), whyapproach (hands off), why
►Businesses would operate with little or Businesses would operate with little or no government interferenceno government interference
►How far could the gov’t then go??How far could the gov’t then go??
RegulationRegulation
►Eventually Government stepped inEventually Government stepped in►Today…Today…
# of hours working# of hours working OSHA (Occupational Safety and Health OSHA (Occupational Safety and Health
Administration)Administration) Health BenefitsHealth Benefits
Adam SmithAdam Smith
►Wrote the Wealth of Wrote the Wealth of NationsNations
► Promoted capitalist Promoted capitalist economyeconomy
► Capitalism is based Capitalism is based on supply and on supply and demanddemand
SocialismSocialism
►Focused less on the individual, more Focused less on the individual, more on society as a wholeon society as a whole
►Believed capitalism created a wide gap Believed capitalism created a wide gap between the rich and the poor (upper between the rich and the poor (upper and lower classes)and lower classes)
►Farms and Businesses would belong to Farms and Businesses would belong to ALL the people, not individualsALL the people, not individuals
Utopian SocialistsUtopian Socialists
►Utopia – An Ideal society, with no Utopia – An Ideal society, with no problems (Sir Thomas More)problems (Sir Thomas More)
►All property and all work sharedAll property and all work shared►All would then have equal wealthAll would then have equal wealth
Karl MarxKarl Marx
► A Socialist who wrote A Socialist who wrote ‘The Communist ‘The Communist Manifesto’ with Friedrich Manifesto’ with Friedrich EngelsEngels
► Believed that Believed that the the problem throughout problem throughout history is the social history is the social class systemclass system
► It was a social class It was a social class struggle between the struggle between the wealthy and the working wealthy and the working class (Proletariat)class (Proletariat)
Marxism believesMarxism believes
►The capitalists took advantage of the The capitalists took advantage of the proletariat (workers)proletariat (workers)
►The proletariat would eventually come The proletariat would eventually come together and overthrow the capitalist together and overthrow the capitalist systemsystem
► It would establish a CLASSLESS It would establish a CLASSLESS SOCIETY (no social classes), wealth SOCIETY (no social classes), wealth and power is equally sharedand power is equally shared
On a half sheet of paper…On a half sheet of paper…
► 2 positives of living 2 positives of living in a capitalist worldin a capitalist world
► 2 negatives of living 2 negatives of living in a capitalist worldin a capitalist world
► 2 positives of living 2 positives of living in a socialist worldin a socialist world
► 2 negatives of living 2 negatives of living in a socialist worldin a socialist world