Reform Movements during the Industrial Revolution Why did Capitalism cause reform movements during the Industrial Revolution?

Adam Smith Capitalist Laissez-Faire Economics & Capitalism Laissez-Faire is an economic philosophy that favored letting owners set working conditions without interference from the government A British economist named Adam Smith defended Laissez-Faire in his book The Wealth of Nations Smith favored a free-market, where people had the freedom to run their business how they wanted This would encourage competition and prices will be regulated by supply & demand Smith calls this capitalism and favored no govt input or interference Many argue that w/o govt input, Capitalism will not protect workers & encourages greed Factory owners make all of the money workers make very little! Adam Smith Capitalist

Utilitarianism John Stuart Mill Many groups began to question Smith’s Capitalist ideas Jeremey Bentham argued that people should judge ideas on their utility or usefulness Government policy should promote the greatest good for the greatest number of people 1800s: John Stuart Mill now leads the Utilitarian movement Mill states unregulated capitalism hurts the people Mill thought it was wrong that most workers were very poor Mill felt the government should create laws to help people creating an equal division of profits Mill also favored Women’s rights, and reforms in education & the prison system John Stuart Mill

Utopian Ideas Robert Owen Utopian British factory owner Robert Owen was shocked by the misery and poverty of the working class Owen built houses near his factory in Scotland and rented them out to his workers for low rates Owen prohibited children under 10 from working in the factories and provided free schooling In 1824, Owen traveled to the US and tried to set up a Utopian system in Indiana New Harmony, Indiana only lasted for three years but did inspire better communities for workers Robert Owen Utopian