1. Philosophers of Industrialization
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2. YOU NEED YOUR NOTEBOOKS TODAY
YOU NEED YOUR NOTEBOOKS TODAY!! Silently define the following words in your notebook. Use the glossary when you are able to.
Laissez faire Capitalism Utilitarianism Socialism Communism Union Collective bargaining Strike

3. Both oppose government efforts to help poor workers!
What is laissez faire? What is capitalism?
The idea that government should not interfere with or regulate industries and business.
Owners set working conditions
Adam Smith- free markets
An economic system based on private ownership and on the investment of money in business ventures in order to make a profit.
Natural laws governed economic life
Both oppose government efforts to help poor workers!

4. What is utilitarianism?
The theory, proposed by Jeremy Bentham in the late 1700s, that government actions are useful only if they promote the greatest good for the greatest number of people
Judge ideas, institutions, and actions based on their usefulness

5. Public ownership would do away with greedy employers
What is socialism?
An economic system in which the factors of production are owned by the public and operate for the welfare of all.
Government should plan the economy rather than depending on free-market capitalism to do the job.
Government control of: factories, mines, railroads etc.
Would abolish poverty and promote equality
Public ownership would do away with greedy employers

6. "From each according to his abilities, to each according to his needs"
Who is Karl Marx? What is communism?
German journalist
Radical type of socialism called Marxism
The Communist Manifesto
Middle class “haves” vs. workers “have nots”
He believed the working class would rise and revolt
An economic system in which all means of production- land, mines, factories, railroads, and businesses- are owned by the people, private property does not exist, and all goods and services are shared equally.
Currently communist:
China
Cuba
Laos
North Korea
Vietnam
"From each according to his abilities, to each according to his needs"

8. What reforms were introduced during this time?
The union movement
An association of workers, formed to bargain for better working conditions and higher wages
Created from long work hours, dirty and dangerous working conditions, and the threat of being laid off
Collective bargaining
If refused, they’d strike
Skilled workers lead the way
Hard to replace

9. Continuation of- What reforms were introduced during this time?
Child labor
Britain,1832
no child under 9
9-12 could only work 8 hours
13-17 could only work 12
Britain, 1842
No children (or women) could work underground
Abolishment of slavery
Led generally by women
Women's rights
Equal pay
Right to vote