Capitalism, Evangelism and Reform

Mercantilism Mercantilism was the economic philosophy of the Renaissance and Age of Reason It held that the Nation that became richest (in gold) “won the international economic game” Nations tightly regulate business and trade in an attempt to “win.”

Capitalism Capitalists believe that through competition people will make the world better. They believe in “Laissez-faire” that business should be “left alone” by Government and not regulated In “The Wealth Of Nations” Adam Smith stated that Supply and Demand alone should control the economy.

The Dark Side of Capitalism Thomas Malthus: Poverty, Hunger etc. are inevitable as the population grows faster than the food supply David Ricardo: “Iron Law of Wages” As populations grow competition for jobs become greater and wages drop…leading to poverty They believed in Capitalism but knew the poor would have to struggle!

Evangelicals and Reform During the 1800’s there were religious revivals…called Evangelism. Evangelism was an active form of Christianity that sought to… Convert new people to the protestant religions Reform Society according to Christian principals

These Religious Reformers Accomplished much such as… Parliament banning the Slave Trade in 1807 Parliament’s abolition of slavery in 1833 They supported Labor Reform, were for shorter work hours and safer conditions in the US and England Methodists and others opposed slavery in the US