reforming the industrialized world · wrote communist manifesto 1848 society divided into...
TRANSCRIPT
Attempts to close the gap between the rich and the poor
Economic policy that allows owners of industry and business set the working conditions without interference from government
Means “let the people do as they please”
Founded on idea that government tariffs and regulations hurt production of wealth and slowed the nation’s economy
Wrote Wealth of Nations p.301
Economic liberty means economic progress
3 Natural Laws of Economics
Self interest
Competition
Supply and Demand
Supported capitalism
Economic system where the factors of production are privately owned and money is invested in businesses to make a profit. P 300
Laissez-faire supported by English economists
Thomas Malthus
Population increases faster than food supply
Extra people bound to be poor and miserable
David Ricardo
Wages forced down as population increases
Government involvement should help improve people’s lives
Jeremy Benthan developed Utilitarianism—people should judge ideas,
institutions, and actions on their usefulness. Government should support ideas that help the greatest number of people
John Stuart Mill questioned unregulated capitalism and thought it was wrong that workers led lives on brink of starvation. Wanted Cooperation between agriculture and women’s rights
Other who favored untilitarianism wanted legal and prison reform
Robert Owens Improved working
conditions for his employees
Built homes for workers near his factory in Scotland
Would not let children under 10 from working in his mills
Provided free schooling Founded cooperative
community in US (commune) called New Harmony in Indiana, 1825 p. 302
Factors of production are owned
by the public and operate for the
welfare of all p. 302
Meant to offset bad effects of I-R
Optimistic
Belief in progress
Social Justice
Government should plan economy, run major industries and this would end poverty & help equality p.302
Right to vote should be extended
Karl Marx and Friedrich Engels
Wrote Communist Manifesto 1848
Society divided into “haves” and “have-nots” (bourgeoisie and proletariat) p.302
Conflict between wealthy owners of production and poor workers
Predicted that workers would overthrow the owners
Based on belief that economic forces dominated society
Capitalism would destroy itself
Factories would drive out artisans leaving only owners to control wealth
Proletariat (workers) would revolt, seize factories and produce what society needed
Workers sharing profits would bring equality
Workers would then control the government which would eventually cease to be needed
This final phase is communism : p.303
Means of production (land, mines, railroads, factories and businesses) are owned by the people
Private property would cease to exist
All goods and services shared equally
Communist Manifesto produced few short term results
Widespread revolts in 1848-1849 across Europe put down
In early 1900’s Marxism influences Russia, China, and Cuba
Unionization—workers join a voluntary labor association to get better working conditions, wages, hours. Creates bargaining power.
Through use of strikes (workers refuse to work for owners),
unions improve working conditions and wages of workers. P.304
Efforts to curb abuses of industrialization
Child labor Factory Act of 1833 which outlawed child labor for those
under 10 years old and restricted the work hours for older children.
Ten Hours Act of 1847 limited the workday for both children and women.
Working conditions in factories and mines
Working women
England—William Wilberfore (MP)
Parliament passes bill to end slave trade in British West Indies in 1807
Britain abolishes slavery in 1833
United States
Movement to honor declaration of Independence gained force in early 1800s
US abolishes slavery in 1865 after civil war
Brazil ends slavery 1888 (last country to do so)
Equal pay in industries (women only earned 1/3 of men’s wages)
Formed labor unions in trades they dominated
Safety inspectors
Community centers to help poor
Right to vote
Horace Mann
Free Public Education for all children became available in US (1850s) and in Europe (late 1800s)
Alexis de Toqueville 1831
Wrote about the terrible conditions in American prisons and advocated reform p. 306