Chapter 9 The Industrial Revolution

Essential Question Discuss the following questions with your neighbors and be prepared to share with the class: 1.Should there be poor and uneducated people in a society? Why/why not?

Philosophies of Industrialization –Capitalism/Laissez faire (free market system) Based on competition & supply/demand Adam Smith –wrote The Wealth of NationsAdam Smith –Economic liberty guarantees economic progress Populations grow faster than food supply Wars & disease kill off extra people or else there is misery and poverty Permanent poor underclass will provide cheap labor Laissez faire: owners of industry set working conditions w/o gov’t interference Capitalism: system of privately owned businesses seeking profits Section 4 Reforming the Industrial World

–Socialism Gov’t should actively plan the economy Government control can end poverty –Marxism: Radical Socialism Karl Marx & Friedrich Engels write The Communist ManifestoKarl Marx Society is divided into warring classes –“haves” –employers known as the bourgeoisie –“have-nots” –workers known as the proletariat Capitalism will eventually destroy itself –Inequality would cause workers to revolt & seize factories  Communism is a form of complete socialism in which the ppl own all production and property Socialism: factors of production are owned by the people & operated for the benefit of the people Communism: complete socialism; where people own all means of production

Labor Unions & Reform Laws –Unions use collective bargaining & strikes to pressure owners Goals: higher wages, shorter hours, improved conditions –Reform Laws passed in GB & US Illegal to hire children under age of 9 Stop woman & children from working underground Supreme Court creates social security to support retired workers Reform Movements –Abolition of Slavery William Wilberforce –Women’s rights –Public education Unions: voluntary associations of workers seeking labor reforms Collective bargaining: negotiate w/ employers for better pay/conditions Strike: call a work stoppage Abolition: to end something

Exit Slip 1.What is the difference between Capitalism and Socialsim?