1. “ISMS” 19.4, 20.1-20.2 Objective: to further discuss important ideals in 19 th Century Europe and their impact

2. Industrial Capitalism lassiez – faire economics Adam Smith “The Wealth of Nations” -felt free, unregulated market would help everyone, not just the rich (produce more goods at a lower price, increased investment) Used results of I.R. as example (gov’t had no role)

3. Social Aspects to I.C. Thomas Malthus -felt pop. growth would outpace food supplies -poor would suffer as long as pop grew – “checks” on population growth -Wrong – food supply grew faster than population David Ricardo “Iron Law of Wages” – dismal science -felt wage increases were futile (as wages grew, families grew, making it harder to pay for necessary items) Both opposed gov’t support for poor -improvement based off of thrift, hard work, and limiting size of families.

4. Socialism Condemn industrial capitalism, felt a gulf was created between rich and poor People as a whole own means of production (farms, factories, railways, distribution centers etc..) Felt these steps would end poverty and injustice Primarily an economic system

5. Socialism Some early socialists were called utopians (wanted perfect society) Ex: Robert Owen and New Lanark, Scotland -successful mill, did not use child labor -encouraged formation of labor unions

6. Communism/Marxism Karl Marx and Freidrich Engles - The Communist Manifesto -felt utopians were unrealistic -Predicted struggle (conflict) between classes, would eventually lead to classless society with m.o.p. owned by the community -felt “haves” (bourgeoisie) have always had advantage over “have-nots” (proletariat)

7. Communism/Marxism Communism eventually becomes equated with a small elite controlling the economic and political systems in a country Felt conflict would end with proletariat as victors with equal sharing of wealth and power – predicted this would begin in Great Britain “Workers of the World Unite!”

8. Conservatism Traditional way of running a government (support political/social order pre-Napoleon) Congress of Vienna was a victory for conservative movement Backed established (Catholic/Protestant) Churches Felt Constitutional Government would only lead to disorder Concert of Europe enforces conservative standards throughout Europe (crushed pro-constitution rebellions in Spain, Portugal and some Italian states)

9. Liberalism Supported by bourgeoisie (included business owners, bankers, lawyers, etc..) Supported constitutional governments/separation of powers Supported idea of natural rights (liberty, equality, property) Felt gov’t should protect basic rights Supported Laissez-Faire economics – provided entrepreneurs best path to success

10. Nationalism Causes break-down of some traditional empires (particularly Ottoman and Austrian) Revolts in Serbia against Ottoman rule (supported by Russia who wanted to aid “little Slavic brothers”) – leads to creation of Serbia Greece – independent in 1830 from Ottomans Aids with eventual unification of Italy and Germany in the late 19 th Century