Philosophies in the Industrial World

1
Philosophies in the Industrial World

• Capitalism, Socialism And Communism

2
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

3
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

4
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

5
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.