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Chapter 25.3/4 (25.3 Industrialization Spreads (lili) (Industrialization…
Chapter 25.3/4
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The Rise of Socialism
Bentham introduced the philosophy of utilitarianism. According to Bentham’s theory, people should judge ideas, institutions, and actions on the basis of their utility, or usefulness. He argued that the government should try to promote the greatest good for the greatest number of people.
Shocked by the misery and poverty of the working class, a British factory owner named Robert Owen improved working conditions for his employees.
In socialism, the factors of production are
owned by the public and operate for the welfare of all. justice. Socialists argued that the government should plan
the economy rather than depend on free-market capitalism to do the job.
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Elements of a modern Economic system developed, such as building large factories and railroads that helped produce goods and export them.Large companies like Big oil and the carnegie steel began, as they flourished owners tried to control every aspect in order to make profits.
European businesses began adopting the "British miracle" which was the direct result of britain's success. But the french revolution and the Napoleonic wars halted trade and interrupted communication.Which spread europe and britain
Since the revolution began so fast workers were in a shortage, as a result kids and teens were forced to work in harsh conditions. The low payments and wages were not enough for taxes and food so people were pushed into starvation and overworking to pay for food and basic human necessities. This made the industrial revolutions have a very high mortality rate, due to the dangerous machines and lack of proper safety gear.