Presentation on theme: "Economic Views of the Industrial Age Philosophers and economists developed theories on the proper maintenance, causes, and effects of industrialization."— Presentation transcript:
Economic Views of the Industrial Age Philosophers and economists developed theories on the proper maintenance, causes, and effects of industrialization.
Adam Smith “father of modern capitalism” – described concept in his book The Wealth of Nations believed in laissez-faire economics ‐business/the market should not be regulated by gov’t – the market will regulate itself ‐ will provide all necessary regulations and limits (French for “free to do”)
Karl Marx wrote believed that capitalism would destroy itself –industrial –eventually workers would rise up against their “masters” and revolt –
Karl Marx this “workers’ revolution” would create communism : all factors of production are owned by the gov’t (which represents the people) –in essence, everything is to be shared for the mutual benefit of all no ownership = no poverty –society is classless: no rich, no poor
Thomas Malthus influenced by Adam Smith believed population would always grow at a faster rate than the food supply p problems of poverty (disease, famine) are nature’s way of balancing the population with the food supply ideas were very pessimistic, affected gov’t’s desire to alleviate poverty mostly, has been proven
The Industrial Revolution was a event. When industrialization hit the West, changes came fast and suddenly. In many cases, there wasn’t time to the of these sudden changes until after some had been done. Can you think of some consequences of industrialization? ANSWER:
As occurred during some of the political revolutions we studied, the West took “ ” during the Industrial Revolution. But eventually helped some of the damage done and allowed the West to continue to move forward. Reforms – later in the Industrial Age
We see this “two-steps-forward-one- step-back”nature of industrialization repeated in modern countries that have only recently industrialized. Eventually, reforms will improve conditions in these countries. Industrialization in the 20 th /21 st Centuries
Abolition At first, dependence on slavery increased because of machines like invented by. Later, though, slavery became obsolete as machines took over more and more labor. social and religious movements called for an end to slavery – called the “ ”, activists called “ ”
Abolition Western Europe & US abolished slavery around mid/late 1800s –British Empire abolished slavery in –United States fought the Civil War in ; during the war President Lincoln officially freed the slaves in the Emancipation Proclamation –Puerto Rico-1873, Cuba-1886, Brazil- Some social activists described the treatment of workers as - in some cases worse - than slavery.
New Voting Laws Western Europe & US passed laws extending to more of their citizens – secured a true “gov’t by the people” reflected population’s move to cities – urbanization cleaned up
Women’s Suffrage suffrage : Women of the classes began to fight for voting rights. Western Europe & US awarded right to vote to women in : –Germany - 1918 –US - 1920 –Britain – 1928 (1918) –France - 1944
Charitable Organizations didn’t believe Malthus – women’s groups / church groups to improve of er classes to improve of poorer classes to solve social problems of poorer classes: lack of education, domestic abuse, alcoholism
Immigration Control E – an immigration inspection center set up in New York Harbor (NYC) –established, in active use until 1934 –a for millions of coming into the US –now a museum featuring the history of immigration to America