New ways of thinking
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New ways of thinking. Made by Aqsa. Interference of Government. The physiocrats claimed that we should be given the permission to operate natural law without the interference of the government.

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New ways of thinking

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New ways of thinking

New ways of thinking

Made by


Interference of government

Interference of Government

  • The physiocrats claimed that we should be given the permission to operate natural law without the interference of the government.

  • Smith declared that the free market would produce goods at less prizes, so that everyone could afford.

  • In 1800s the middle class leaders embraced the laissez Faire approach.

Increasing of population

Increasing of population

  • Thomas Malthus said that the increasing population could cause in decrease for the food supply.

  • Natural methods like, diseases, wars and famine could reduce the population.

  • Malthus encouraged the people to have few children and discourage charitable handouts and vaccination.

Changing lifestyle

Changing lifestyle

  • By 1800s many people accepted Malthus Bleak view about changing there lifestyles.

  • Unfortunately his views got wrong, and the population and food supply increased.

  • But somehow after some years the western world started improving.

  • People began to have few children

Ricardo s views

Ricardo’s views

  • David Ricardo decided to go for the economic studies after reading Smith’s The wealth of nations.

  • Ricardo didn’t hoped for the working class to escape poverty.

  • In the law of wages, Ricardo mentioned about the increase in wages because he said that it may cover the cost of necessities.



  • Jeremy Bentham supported the idea that the goal of society should be the greatest happiness for the greatest number of citizens.

  • According to Bentham people should have individual freedom

  • Beside this, he said that the government should be involved in certain issues.

View of john stuart mill

View of John Stuart Mill

  • Like Bentham, Mill was also in favor of individual freedom but still he said that the government should be improved for the lives of working class.

  • He further voted for the women and workers.

  • Most of the middle class people rejected his views.

Industrial age

Industrial Age

  • Robert Owen who was a Utopian, didn’t fulfilled his duty in running industrial age.

  • He believed that there would be a way to make the society better.

  • To fulfill his point he built a cotton mill in Lanark, Scotland.

  • He reduced the working hours, made schools for the children and opened a big store for the workers from where they could get food and clothes.

  • From 1815 till 1825 more than 20,000 people visited Lanark for the study of Owens reforms.



  • Some other thinkers focused and disapproved the immoral industrial capitalism.

  • They said that this capitalism has created a difference between the rich and poor.

  • According to them socialism was the solution to last poverty and injustice.

  • This socialism helped to develop faith and human nature.

The communist manifesto

The communist Manifesto

  • Karl Marx disapproved the ideas of Utopians.

  • His new theory was about the scientific socialism, which was based upon the scientific study of history.

  • Marx and Engel worked together and wrote about the pamphlet” The communist Manifesto” which was published in 1848.

  • In The communist Manifesto Marx argued over the history of class struggle among the “haves and the have-nots” whereas the haves were the bourgeoisie and have-nots were the working class.

Social democracy

Social Democracy

  • By looking over the Marx ideas another German socialist came up with an idea of social democracy where there would be gradual transition from capitalism to socialism.

  • After some years, due to lack of success Marxist government would illustrate the blemish Marx’s argument.

  • After the end of 20th century, most of the economy included the elements of free- market capitalism.

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