Reforms in the Industrial World by we9mj6AB

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									Philosophies in the Industrial
World


   Capitalism, Socialism And
   Communism
Philosophers
 Laissez-faire
   Owners of industry and business et working
    conditions without interference
 Adam Smith favor of laissez-faire
   Wealth of Nations
 Capitalism
   Economic system with private ownership
 Thomas Malthus,       An Essay on the Principle of Population
   Population tended to increase more rapidly than
    the food supply
     War and disease was necessary
Capitalism
 David Ricardo,   Principles of Political Economy
  and Taxation

   Underclass will always be poor
   Abundant workers/ resources =
    cheap labor/resources
   Few workers/resources =
    expensive labor/resources
 Ricardo, Malthus ,and Smith
  were all laissez-faire thinkers
Socialism
 Government intervention
 Utilitarianism- founder Jeremy
  Bentham
   People should judge ideas, institutions
    and actions based on their usefulness
   Government should promote the
    greatest good for the greatest number of
    people
   John Stuart Mill led movement
Marxism: Radical Socialism
 The Communist Manifesto,
  Marx and Friedrich Engels
   Haves (employers) vs have nots
    (workers)
   Working Class = the Proletariat
   Communism = a complete form
    of socialism in which all means of
    production – all land, mines,
    factories, railroads, businesses
    would be owned by the people.
    All goods would be shared
    equally.

								
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