1. Philosophers of Industrialization Pages 267-272

2. YOU NEED YOUR NOTEBOOKS TODAY!! Silently define the following words in your notebook. Use the glossary when you are able to. Laissez faire Capitalism Utilitarianism Socialism Communism Union Collective bargaining Strike

3. What is laissez faire? What is capitalism?  The idea that government should not interfere with or regulate industries and business.  Owners set working conditions  Adam Smith- free markets  An economic system based on private ownership and on the investment of money in business ventures in order to make a profit.  Natural laws governed economic life Both oppose government efforts to help poor workers !

4. What is utilitarianism?  The theory, proposed by Jeremy Bentham in the late 1700s, that government actions are useful only if they promote the greatest good for the greatest number of people  Judge ideas, institutions, and actions based on their usefulness  Government is only useful if they promote the greatest good for the greatest amount of people.

5. What is socialism?  An economic system in which the factors of production are owned by the public and operate for the welfare of all.  Government should plan the economy rather than depending on free-market capitalism to do the job.  Government control of: factories, mines, railroads etc.  Would abolish poverty and promote equality  Public ownership would do away with greedy employers

6. Who is Karl Marx? What is communism?  German journalist  Radical type of socialism called Marxism  The Communist Manifesto  Middle class “haves” vs. workers “have nots”  He believed the working class would rise and revolt  An economic system in which all means of production- land, mines, factories, railroads, and businesses- are owned by the people, private property does not exist, and all goods and services are shared equally. "From each according to his abilities, to each according to his needs" Currently communist: China Cuba Laos North Korea Vietnam

8. What reforms were introduced during this time?  The union movement  An association of workers, formed to bargain for better working conditions and higher wages  Created from long work hours, dirty and dangerous working conditions, and the threat of being laid off  Collective bargaining  If refused, they’d strike  Skilled workers lead the way  Hard to replace

9. Continuation of- What reforms were introduced during this time?  Child labor  Britain,1832  no child under 9  9-12 could only work 8 hours  13-17 could only work 12  Britain, 1842  No children (or women) could work underground  Abolishment of slavery  Led generally by women  Women's rights  Equal pay  Right to vote