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INDUSTRIAL CAPITALISM/SOCIALISM - Coggle Diagram
INDUSTRIAL CAPITALISM/SOCIALISM
Causes of Industrial Revolution
Improved Transportation - James Watt - Steam Engine
Vast Overseas Market - England big colonial power - India,England,Cananda
Availability of Coal and Iron
Technical Skills and Energy of Immigrants
Enclosure Movement (Availability of Cheap Labour)
Inventive Qualities of People
Stable System of Government
COMPARISON - S vs C
Market Economy VS Planned Economy
Profit Maximisation VS Social Cohesion
Private Ownership VS State Ownership
Welfare Activites VS No Safety Net
MAIN FEATURES OF CAPITALSIM
Market Economy - Force of Demand and Supply
Profit Motive
Wealth is in private hands
Goods have a market value
EVILS OF CAPITALISM
Increase in Slums
Unemployment
A System of Mass Exploitation
New Imperialism and Imperialist Wars
SOCIALISM FEATURES
Promotes Freedom
Abolition of private ownership
Follows Collectivisim
Democratic means should be emplyed to achieve objectives