1. Reforming the Industrial World
Ch. 9, Section 4

2. Capitalism Adam Smith & Wealth of Nations
Economic liberty guarantees economic progress
Laissez-Faire = “hands off” or “let do”
Will be guided by an invisible hand
3 Natural Laws of Economics
Law of Self-interest
Law of Competition
Law of Supply and Demand

3. Adam Smith
Economic Freedom
Gov’t should not interfere in the Economy

4. Adam Smith 3 laws of Economics
1. Self Interest – People will work for their own good
2. Competition – Competition forces people to better the product
3. Supply & Demand – Enough goods will be produced at the lowest price to meet the needs of the people

5. Thomas Malthus Population increases more rapidly than the food supply
Wars & Diseases are needed to control the population

6. David Ricardo The poor will always be poor
As population rises, more workers are created therefore decreasing wages

7. Capitalist opposed minimum wage, better working conditions
Capitalism
All factors of production are owned by individual people
Thomas Malthus
Population increases faster than food supply
Need epidemics, war to prevent overpopulation
David Ricardo
There will always be an underclass
Capitalist opposed minimum wage, better working conditions

8. Rise of Socialism
Some believed those who are able should help the unable
Utilitarianism – Jeremy Bentham
People should evaluate everything on usefulness
Govt. should promote greatest good for the greatest number of people
Workers are not treated fairly; work hard for low pay and poor living conditions
Government should work to end the large gap between rich and poor.

9. Rise of Socialism Socialism
Socialism—factors of production owned by, operated for the people, by the people
Govt. should plan economy, end poverty, promote equality
Optimistic view of human nature, advocate change through right to vote
Socialists think government control can end poverty, bring equality
All can benefit from increased production, not just a few

10. Robert Owen
Founder of Socialism
Provided Low rent housing
No kids under 10 worked
Provided free schooling

11. John Stuart Mill Gov’t should control divisions in wealth
Divide profits equally
Women’s rights

12. Communism

13. Marxism: Radical Socialism
Karl Marx
Friedrich Engels

14. The Communist Manifesto
Marx and Engels believe society is divided into warring classes
Capitalism helps “haves,” the employers known as the bourgeoisie
Hurts “have-nots,” the workers known as the proletariat
Marx, Engels predict the workers will overthrow the owners

15. The Future According to Marx
Marx believes that capitalism will eventually destroy itself
Inequality would cause workers to revolt, seize factories and mills
Communism—society where people own AND share the means of production
Marx’s ideas later take root in Russia, China, Cuba

16. Unionization Unions—associations formed by laborers to work for change
Unions negotiate for better pay, conditions with employers
Sometimes they strike to pressure owners
Workers in Britain, U.S. must fight for right to form unions
Union goals were higher wages, shorter hours, improved conditions

17. Reform Laws
British, U.S. laws passed to stop worst abuses of industrialization
1842 Mines Act in Britain stops women, children working underground
1847- workday for women, children limited to 10 hours in Britain
U.S. ends child labor, sets maximum hours in 1904

18. The Reform Movement Spreads
In 1833, William Wilberforce helps end slavery in British empire
Slavery ends in U.S. in 1865
Women begin pursuing economic and social rights as early as 1848
Public Schools
free public schools in Europe in late 1800s
Common U.S. by 1850s
Also reform prisons

19. Horace Mann
Free Schooling for all Children

20. William Wilberforce
Led the fight against slavery in Great Britain & it’s Empire

21. Jane Addams “Hull House”
Ran settlement houses to provide for the poor.
“Hull House”

22. Democratic Reform and Activism
Ch. 10, Section 1

23. Women’s Movement
Some countries had universal suffrage for men, but not women
Both men & women claimed women lacked the “ability” to participate in politics
Women began protesting

24. Emmeline Pankhurst

27. Members of WPSU jailed numerous times
Hunger strikes to get attention
New Zealand (1893)
Australia (1902)
Finland (1906)
Norway (1913)
Britain (1918)
U.S.A. (1920)