Industrial Revolution: Reform. Key Concept 5.1 Industrialization and Global Capitalism Tuesday March 27, 2018

Transcription

1 Industrial Revolution: Reform Key Concept 5.1 Industrialization and Global Capitalism Tuesday March 27, 2018

2 Capitalism An economic idea that promoted maximum profit through competition and investment

3 Capitalism Factors of production are owned by businesses and citizens

4 Laissez-Faire Capitalism Adam Smith Wealth of Nations Advocated laissezfaire capitalism for government

5 Laissez-Faire Capitalism Free-market capitalism challenged mercantilism which said that governments should regulate trade and economics

6 Laissez-faire: Capitalism Government generally leaves the economy alone Little to no government regulation.

7 Laissez-faire: Capitalism No government protection for workers

8 Laissez-faire: Capitalism No government control of wages

9 Laissez-faire:Capitalism No government control of prices

10 Capitalism Guide for the economy is self- interest- Greed

11 Capitalism Economy will be guided by an Invisible Hand (market forces)

12 Capitalism Role of Government Protect the citizens from foreign invasion. Protect the citizens from internal enemies. Build infrastructure (roads, canals, bridges).

13 Law of Supply and Demand Supply: the amount of items at a given price available for sell. Demand: the number of items at a given price that consumers wish to purchase.

14 Law of Competition Competition is good. Competition keeps prices low. If you cannot produce an item that is competitive in the market, you will go out of business.

15 Law of Competition: Capitalism If you go out of business your resources will be put to use in a more productive way and you will find another place in market

16 Capitalism Poverty of the lower classes was a result of overpopulation that needed to be controlled. Led to falling wages

17 Stereotype of the Factory Owner

18 Upstairs / Downstairs Life

19

20 Factory Wages in Lancashire, 1830 Age of Worker Male Wages Female Wages under 11 2s 3d. 2s. 4d s. 1d. 4s. 3d s. 2d. 7s. 3d s. 2d. 8s. 5d s. 4d. 8s. 7d s. 8d. 8s. 9d s. 7d. 9s. 8d s. 3d. 9s. 3d s. 7d. 8s. 10d s. 4d. 8s. 4d s. 6d. 6s. 4d.

21 Industrial Staffordshire

22 Problems of Polution The Silent Highwayman

23 The New Industrial City

24 Early-19c London by Gustave Dore

25 Worker Housing in Manchester

26 Factory Workers at Home

27 Workers Housing in Newcastle Today

28 The Life of the New Urban Poor: A Dickensian Nightmare!

29 Private Charities: Soup Kitchens

30 Private Charities: The Lady Bountifuls

31

32 The Luddites: Attacks on the frames [power looms]. Ned Ludd [a mythical figure

33 The Luddite Triangle

34 The Luddites

35 The Chartists Key Chartist settlements Centres of Chartism Area of plug riots, 1842

36 The Peoples Charter V Drafted in 1838 by William Lovett. V Radical campaign for Parliamentary reform of the inequalities created by the Reform Bill of Votes for all men. Equal electoral districts. Abolition of the requirement that Members of Parliament [MPs] be property owners. Payment for Members of Parliament. Annual general elections. The secret ballot.

37

38 Thomas Malthus Population growth will outpace the food supply. War, disease, or famine could control population. The poor should have less children. Food supply will then keep up with population.

39 David Ricardo Iron Law of Wages. When wages are high, workers have more children. More children create a large labor surplus that depresses wages.

40 The Utilitarians: 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.

41 Jeremy Bentham

42

43 Ideas of Capitalism have changed over time.

44 Subsistence Agriculture (Farmers grow enough for their family Controlled Economy Economic Systems Free Market Free Enterprise Government Control Communism Socialism Public Ownership (land and/or natural resources Capitalism Low degree of government control 2012, TESCCC

45 Utopian Socialism Charles Fourier Human alternatives to industrial capitalism. Self-sustaining communities who work cooperatively.

46 The Socialists: Utopians & Marxists People as a society would operate and own the means of production, not individuals. Their goal was a society that benefited everyone, not just a rich, well-connected few. Tried to build perfect communities [utopias].

47 Utopian Socialism

48

49 Socialism Socialism and communism are both are systems of production based on public ownership of the means of production and centralized planning.

50 Socialism

51 Socialism Karl Marx 1848 Rejected capitalism Private property abolished Capitalism to be violently overthrown

52 Socialism Proletariat Producers and workers Bourgeoisie Capitalists both rich and middle class

53 Socialism Factors of production are owned by the Government and operate for the welfare of all.

54 Socialism Relative Social Equality People work for the common good NOT themselves.

55 Socialism Socialism rejected religion. Ones first obligation was to the state

56 Socialism Socialism grows directly out of capitalism; it is the first form of the new society.

57 Communism Communism is a further development or "higher stage" of socialism.

58 Communism From each according to his ability, to each according to his deeds (socialism). From each according to his ability, to each according to his needs (communism).

59

60 Communism Eventually the government would disappear All society would live communally