New Ideologies during the

Industrial Revolution

Modern Euro
Ms. Corso
Spring 2015

https://www.khanacademy.org/humanities/history/CrashCourse-WorldHistory/you-aintthe-boss-of-me-2/v/crash-course-world-history-32

2 mins-4 mins
8:30-8:45

Laissez Faire Economics

Adam Smith, Wealth of Nations (1776),
Freely functioning economies were capable
of bestowing benefits to all levels of society
French words for Leave to do, or Leave
alone
Advocates favor individual self-interest and
competition
Opposition of taxation and regulation of
commerce

Laissez Faire Economics

Whatever is done for men or classes, to a certain
extent takes away the stimulus and necessity of doing
for themselves; and where men are subjected to overguidance and over government, the inevitable tendency
is to render them comparatively helpless.
-Samuel Smiles,1859
Author of Self-Help, Philosopher

Laissez Faire Economics

Connection to last class: 1870s British factories ran without regulation

Industrial Capitalism 2 min 50 secs-4 min 30 sec

5:18-6:55
10:27-12:18

https://www.khanacademy.org/humanities/history/CrashCourseWorldHistory/you-aint-the-boss-of-me-2/v/crash-course-world-history-33

QUICK QUESTION: Who, in 19th Century Great Britain, would be in favor

of laissez faire economics?

Utilitarianism
The idea that the goal of society should be
to bring about the greatest happiness for
the greatest number of people.
-John Stuart Mill

Socialism (Battle of the Beards)

A system in which the people as a whole
rather than private individuals own all
property and operate all businesses.
MARX

ENGELS

Scientific Socialism
Coined by Friedrich Engel (co-wrote the
Communist Manifesto)
A method for understanding and predicting
social, economic and political trends in
history according to the scientific method.

Communism
Short term goals:

Long term goals:

graduated income tax

Abolition of Private Property

abolition of inheritance

True Freedom & Democracy

centralized credit,
communication
free education for children
abolition of child labor laws

Conservativism

Liberalism

Political and social

ideology that promotes
the retention of
traditional social
institutions

Political and social

ideology that advocates
civil liberties and
political freedoms

Business/middle class to stay

subordinate to the aristocracy
- Edmund Burke

...all based in 19th Century Britain

John Stuart Mill

John Maynard Keynes
Adam Smith
From Laissez Faire to Social
Darwinism

Time for a Super Fun Packet!