Industrial revolution philosophers cp 2012

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Industrial revolution philosophers cp 2012

  1. 1. INDUSTRIAL REVOLUTION PHILOSOPHERS New economic ideas.
  2. 2. LAISSEZ – FAIRE Laissez – faire means letting the owners of businesses set working conditions without regulation from the government. This was originally an Enlightenment idea from Adam Smith.
  3. 3. CAPITALISM During the Industrial Revolution Adam Smith’s idea was taken further to form capitalism a system in which money is invested in business ventures with the goal of making a profit.
  4. 4. UTILITARIANISM Jeremy Bentham introduced the idea of utilitarianism which said people should judge businesses, workers, and actions by their utility (usefulness). He thought the goal of the government was to do what is best for the greatest number of people.
  5. 5. UTOPIAN IDEAS  Robert Owen was a factory owner who was shocked by the horrible conditions.  He improved working conditions for his employees such as not allowing children under 10 to work, and providing free schooling.
  6. 6. SOCIALISM Socialism is when the factors of production are owned by the public and operate for the welfare of all – meaning to government controls the natural resources and helps to regulate the economy. This helps to prevent poverty.
  7. 7. COMMUNISM  Karl Marx believed that communism a form of complete socialism in which all means of production (land, mines, factories, railroads, and businesses) would be owned by the people/government.  Under communism there would be no private property and everything is shared.
  8. 8. RISE OF UNIONS  Workers joined unions or voluntary trade associations to make reforms.  Unions used collective bargaining (having one person represent the entire group and negotiate with the employers), and strikes (refusing to work until demands are met) to accomplish their goals.

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