6. Change is viewed in a positive way by those who benefit from it, but what about the under- privileged, the minorities, women and children? The mass movement of human populations from agrarian, rural areas to urban centers and cities had huge sociological, psychological, political and economic consequences. The life style change from the farm to the city, loss of the extended family structure, changes from the home to the factory as the center of production, the degradation of the environment, the creation of a class society which includes blue collar and middle classes and the colonization of the world in the search for raw materials were incredible catalysts that have changed the course of history and still affect us today.
25. So England It Is... THE WORKSHOP OF THE WORLD THE WORKSHOP OF THE WORLD THE WORKSHOP OF THE WORLD “ That nation of shopkeepers!” Napoleon Bonaparte
34. Richard Arkwright “Pioneer of the Factory System” System” The “Water Frame” Arkwright's achievement was to combine power, machinery, semi-skilled labour, and a new raw material (cotton) to create, more than a century before Ford , mass production. His mechanical abilities and, above all, his genius for organization made him more than anyone else, the creator of the modern factory system.
35. Factory System FACTORS OF PRODUCTION 1. Land - includes natural resources 2. Labor - people to do the work 3. Capital - money to invest 4. Enterprise - ability to combine the other three factors and create a business or service
36. Factory Production Concentrates production in one place [materials, labor]. Located near sources of power [rather than labor or markets]. Requires a lot of capital investment [factory, machines, etc.] more than skilled labor.
37. Factory System Rigid schedule. 12-14 hour day. Dangerous conditions. Mind-numbing monotony. Young “Bobbin Doffers”
42. Mining - Forge More powerful than water is coal. More powerful than wood is iron. Innovations make steel feasible. “ Puddling” [1820] – “pig iron.” “ Hot blast” [1829] – cheaper, purer steel. Bessemer process [1856] – strong, flexible steel.
60. Who should benefit from the profits of the new factories - the capitalists owners or the workers?
61. Robert Owen Thomas Malthus David Ricardo New economic views on factors of production Economist = those who study the “dismal science ” of economics - dismal because workers will always be poor
62. Robert Owen A factory owner who believed that workers in his factories - if treated well with good pay, decent working hours, and safe working conditions - would work harder, produce more, and buy more thereby making a higher profit for both the owner and the workers
63. Thomas Malthus David Ricardo Malthus and Ricardo believed in “ laissez-faire ” (free market - hands off) economics of Adam Smith but for much more negative reasons. Smith believed that workers should be paid well so they could buy more in a free market system
64. Thomas Malthus Adam Smith you are wrong. THE human population grows faster than the food supply that feeds them. Only disease, disaster, war, and famine keeps the human population in check. Therefore, if workers are paid high wages, receive better working conditions, and gov’t assistance then they are going to eat more food and produce more children which will only result in more poverty
65.
66. David Ricardo Iron Law of Wages: higher wages = more children= more workers competing for jobs = drive wages down, create unemployment and famine
67. David Ricardo “ Iron Law of Wages.” When wages are high, workers have more children. More children create a large labor surplus that depresses wages.
68. The Utilitarians Jeremy Bentham & John Stuart Mill Jeremy Bentham & John Stuart Mill The goal of society is the greatest good for the greatest number. There is a role to play for government intervention to provide some social safety net.
69. Jeremy Bentham Utilitariansim -This philosophy, utilitarianism, argued that the right act or policy was that which would cause "the greatest happiness of the greatest number"
70. The Utilitarians John Stuart Mill John Stuart Mill believed in Utilitarianism of Jeremy Bentham but his conception was different Mill's On Liberty addresses the nature and limits of the power that can be legitimately exercised by society over the individual. One argument that Mill develops further than any previous philosopher is the harm principle. The harm principle holds that each individual has the right to act as he wants, so long as these actions do not harm others.
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72. Karl Marx (1818-1883) Friedrich Engles (1825-1895) Not happy with Robert Owen’s “utopian socialism” - want a more revolutionary approach.
73. Karl Marx (1818-1883) Friedrich Engles (1825-1895) Want a revolutionary mov’t where workers (proletariat) overthrow the existing rulers and factory owners (bourgeoisie) in order to form a country run by workers. Ultimately this would lead to a communist state where all property would be shared. This is a good idea!
74. What is the difference between socialism capitalism communism ? ? ? ? ? ?
75. Communism, Socialism, Capitalism Communism Socialism Capitalism Gov’t role in the economy Gap b/w “haves and have-nots” Countries Your definition