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New Ways of Thinking in the Industrial Revolution. The rise of Socialism. Thomas Malthus. Bleak view of factory system Only checks on population growth were “nature’s natural methods” of war, disease, and famine Views proved WRONG!. David Ricardo. Another laissez-faire economist

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Presentation Transcript
thomas malthus
Thomas Malthus
  • Bleak view of factory system
  • Only checks on population growth were “nature’s natural methods” of war, disease, and famine
  • Views proved WRONG!
david ricardo
David Ricardo
  • Another laissez-faire economist
  • Believed in the “Iron Law of Wages”
  • Opposed any government help for the poor
  • Hard work and limiting size of families
jeremy bentham and utilitarianism
Jeremy Bentham and Utilitarianism
  • Goal of society should be “greatest happiness for greatest number” of citizens
  • Laws should be only if they are USEFUL
  • Influenced John Stuart Mill, who wanted laws to protect workers
socialism
Socialism
  • The people as a whole—NOT individuals—own the means of production
  • Karl Marx and Friedrich Engels, The Communist Manifesto 1848
  • Communism: Creation of a classless society
communism vs capitalism
Communism vs. Capitalism?

Communism

Democratic Capitalism (USA)

  • Class struggle 
  • Proletariat vs. Bourgeoisie
  • VIOLENT REVOLUTION
  • Classless society (“utopia”)
  • Everyone is EQUAL, GUARANTEED 
  • MUST stay put
  • No trade
  • No personal freedoms
  • Many social classes
  • Class MOBILITY 
  • MUCH INEQUALITY
  • NO guarantees!
  • Able to have personal freedoms and choices