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“ISMS”

“ISMS”. 19.4, 20.1-20.2 Objective: to further discuss important ideals in 19 th Century Europe and their impact. Industrial Capitalism. lassiez – faire economics Adam Smith “The Wealth of Nations”

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“ISMS”

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  1. “ISMS” 19.4, 20.1-20.2 Objective: to further discuss important ideals in 19th Century Europe and their impact

  2. Industrial Capitalism • lassiez – faire economics • Adam Smith “The Wealth of Nations” -felt free, unregulated market would help everyone, not just the rich (produce more goods at a lower price, increased investment) • Used results of I.R. as example (gov’t had no role)

  3. Social Aspects to I.C. • Thomas Malthus -felt pop. growth would outpace food supplies -poor would suffer as long as pop grew – “checks” on population growth -Wrong – food supply grew faster than population • David Ricardo “Iron Law of Wages” – dismal science -felt wage increases were futile (as wages grew, families grew, making it harder to pay for necessary items) • Both opposed gov’t support for poor -improvement based off of thrift, hard work, and limiting size of families.

  4. Socialism • Condemn industrial capitalism, felt a gulf was created between rich and poor • People as a whole own means of production (farms, factories, railways, distribution centers etc..) • Felt these steps would end poverty and injustice • Primarily an economic system

  5. Socialism • Some early socialists were called utopians (wanted perfect society) • Ex: Robert Owen and New Lanark, Scotland -successful mill, did not use child labor -encouraged formation of labor unions

  6. Communism/Marxism • Karl Marx and FreidrichEngles - The Communist Manifesto -felt utopians were unrealistic -Predicted struggle (conflict) between classes, would eventually lead to classless society with m.o.p. owned by the community -felt “haves” (bourgeoisie) have always had advantage over “have-nots” (proletariat)

  7. Communism/Marxism • Communism eventually becomes equated with a small elite controlling the economic and political systems in a country • Felt conflict would end with proletariat as victors with equal sharing of wealth and power – predicted this would begin in Great Britain • “Workers of the World Unite!”

  8. Conservatism • Traditional way of running a government (support political/social order pre-Napoleon) • Congress of Vienna was a victory for conservative movement • Backed established (Catholic/Protestant) Churches • Felt Constitutional Government would only lead to disorder • Concert of Europe enforces conservative standards throughout Europe (crushed pro-constitution rebellions in Spain, Portugal and some Italian states)

  9. Liberalism • Supported by bourgeoisie (included business owners, bankers, lawyers, etc..) • Supported constitutional governments/separation of powers • Supported idea of natural rights (liberty, equality, property) • Felt gov’t should protect basic rights • Supported Laissez-Faire economics – provided entrepreneurs best path to success

  10. Nationalism • Causes break-down of some traditional empires (particularly Ottoman and Austrian) • Revolts in Serbia against Ottoman rule (supported by Russia who wanted to aid “little Slavic brothers”) – leads to creation of Serbia • Greece – independent in 1830 from Ottomans • Aids with eventual unification of Italy and Germany in the late 19th Century

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