Philosophers of Industrialism
Agenda
1. Bell Ringer: What is the Industrial Revolution?
2. Quick Review of previous inventors and new
technology.
3. Philosophers of Industrialism Lecture
4. Primary Analysis: Workers and Barons of the
Industrial Revolution.
5. Compare and Contrast Capitalism and Communism.
6. Discussion: Which Philosophy would you support?
7. Objectives
Quick Review
1.
2.
3.
Who invented the steam engine?
What is the advantage of the spinning jenny?
Who combined the water frame and the spinning jenny to create an
new invention? What was it?
4. Who created the first steamboat?
5. What was the advantage of the cotton gin?
6. What are conditions in the factories?
7. What are the three factors of production?
8. Identify the three conditions needed for Industrialization to occur.
9. When does Industrialization move into the United States?
10. What event prompts reform and changes to labor laws and factories?
Laissez-Faire Economics
• Take the government
out of business.
• Regulation interfered
with wealth.
• Adam Smith wrote
Wealth of Nations.
• Economic liberty
guarantees progress,
and the government
should not interfere.
Malthus vs. Ricardo
• Thomas Malthus and David
Ricardo agree with Smith.
• Foundations of Capitalism
– Economic system in which
money is invested in
business with a goal of
making profit.
• Malthus believed that
increasing population would
cause greater poverty.
• Ricardo believed that there
will always be a “poor” class.
• Wages go down as population
increases.
Socialism
• Owned by the public
and operate for the
welfare of ALL.
• The government must
take action to improve
the lives of the poor.
• The lower class will rise
up against the
government if nothing
is done.
Utilitarianism
• Jeremy Bentham introduced
this theory. (1832)
• People should judge ideas,
institutions and ideas based
on their usefulness.
• Government should
promote the greatest good
for the masses.
• John Stuart Mill- help
ordinary people with
policies that lead to
equality.
Karl Marx and his Communist
Manifesto
• Marxism- Radical socialism
built on revolution.
• Human societies have
always been divided into
warring classes.
– Bourgeoisie- Middle class
employers.
– Proletariat- Lower class
workers
• The Industrial Revolution
was to blame for their
hardships.
What did Marx believe
• He believed the Industrial
Revolution would destroy
itself.
• Factories would drive small
businesses out of work, and
the large group of workers
would revolt.
• Sharing in the profits, the
workers would bring
equality to all people.
• Purest form of Communism
had all things owned by the
people.
Philosophy
Which is the best
philosophy discussed
today and why? Explain in
at least 4-6 sentences. Use
evidence from your notes.