Discuss Homework, pg. 622

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Discuss Homework, pg. 622

• What made the factory system possible, and why
  was it such an important part of the early
  industrial system? What impact did it have on the
  lives of workers?
• How are changes in population growth and the
  increase in urbanization related to the
  Industrial Revolution?
• What efforts did workers make to ameliorate (make
  better) the harsh working conditions of the early
  Industrial Revolution? COLLECT PAPERS after
  discussion

2
New Notes!

• Take out paper and take down the following notes
  ?
• Notes and information is connected to questions
  on your final and terms/people from your Final
  Study Guide (passed out previously in class)

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Changing Ideology

• In industrialized countries in the 19th c. we see
  an increased gap between rich and poor
• Business leaders believe that government should
  stay out of business and economic affairs.
• Reformers wanted government to play an active
  role in improving conditions of the poor.
• Leading to different economic policies

4
Adam Smith Capitalism

• Wrote The Wealth of Nations in 1776
• States that all actors are driven by the
  principle to better themselves
• The Market is driven by both producers and
  consumers.
• In the market these factors are called supply and
  demand
• The Invisible Hand Smiths phrase for the
  markets ability to regulate itself based on the
  needs of both the producers and consumers- This
  is known as a free market or self-regulating
  market

5
Adam Smith Capitalism

• Economic liberty guaranteed prosperity
• Three natural laws of economics
• Self-interest (People work for their own good)
• Competition (Forces people to make better
  products)
• Supply and Demand (Enough goods would be produced
  at a low enough cost to meet demand)
• Laissez-faire (roughly) let people do as they
  please a core part of capitalism
• Capitalism Factors of production are privately
  owned and money is invested in those businesses
  to make money

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Utilitarianism

• Related to (but different from) capitalism
• Called for the government to promote the greatest
  good for the greatest number of people
• People should judge ideas, institutions, and
  actions on how useful they are, or their utility
• John Stuart Mill was the most famous utilitarian
  philosopher ? Called for government to end
  differences in levels of wealth in Britain

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Socialism

• Many reformers were shocked by living conditions
  of working class people
• Socialism Factors of production are owned by the
  public and operated for the welfare and benefit
  of all
• Governments responsibility was to take care of
  its citizens
• Government ownership of industry would prevent
  inequality and end poverty

8
Radical Socialism

• Karl Marx and Friedrich Engels write the
  Communist Manifesto in 1848
• Human societies have always been divided into the
  haves and have-nots
• Haves bourgeoisie
• Have-nots proletariat (workers)
• This leads to unavoidable conflict
• Industrial Revolution made this much worse, and
  sooner or later workers would rise up and
  overthrow their masters

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Radical Socialism

• The proletarians of the world have nothing to
  lose but their chains. They have a world to win.
  Workingmen of all countries, unite!
• Karl Marx and Friedrich Engels
• Proletarian workers or working class people,
  collectively as a group

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The future according to Marx

• Capitalism would destroy itself eventually?
  Workers would revolt, take over industry
• Workers would then be the government and bring
  economic equality to all
• A true classless society would then emerge
• This last stage is called communism

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Revolution

• The Communist Manifesto in 1848 inspired short
  revolutions across Europe that summer
• France, German states, Italian states, Poland,
  Hungary
• None resulted in anything permanent, but it did
  signify the anger that workers had towards
  business owners
• It would take another 60 years before real
  economic revolutions would start taking place
• Russia in 1917, China in 1949, Cuba in 1959
• Today, only five countries in the world are
  communist
• China, Vietnam, Laos, North Korea and Cuba

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Homework

• Check notes today with Study Guide for final
• REVIEW Notes on 634-638 Assigned (not
  collected) on Dec. 17, REVIEW or re-take the
  notes
• Start NEW Notes on Pg. 660 662 The Crimean War
  Napoleon III is not the Napoleon I that weve
  read/learned about briefly.
• CNN Student news if time CNN Student News