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Effects of Industrial Revolution on Society

Effects of Industrial Revolution on Society. Growth and Urbanization. Population explosion Declining death rate Rise in birth rate Shift from rural to urban More people, more cities. Social Classes. Winners Factory owners, bankers, merchants

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Effects of Industrial Revolution on Society

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  1. Effects of Industrial Revolution on Society

  2. Growth and Urbanization • Population explosion • Declining death rate • Rise in birth rate • Shift from rural to urban • More people, more cities

  3. Social Classes • Winners • Factory owners, bankers, merchants • Professionals, shopkeepers, “white-collar” workers • Losers • Artisans • Aristocracy and peasants • Urban working classes • Longer hours • Lower wages • Children and women

  4. Violence • Luddites • 1811-1812 • Sabotage a capital offense • Molly Maguires • Exploited miners • Trade unions • Chartism

  5. Economic Liberalism • Thomas Malthus • Population increase by geometric ratio • Food supply increases only by arithmetic ratio • Nothing can be done • Poor themselves are to blame • David Ricardo • Iron Law of Wages • Wages remain just above starvation level • Labor Theory of Value • Value of product equal to labor needed to make it • Utilitarianism • Jeremy Bentham • “greatest good for the greatest number” • John Stuart Mill

  6. Utopian Socialism • Society based on cooperation and community NOT competitive individualism • Robert Owen • New Lanark, Scotland • New Harmony, Indiana

  7. Marxism Socialism • Karl Marx and Friedrich Engels • Communist Manifesto • Economic Interpretation of History • Society formed around means of production • Economic history • Class Struggle • Haves vs. have-nots • Surplus Value • Source of profit for capitalists • Inevitable Destruction of Capitalism • Revolt of multiplying working class to establish classless society • Internationalism • Workers across national boundaries have more in common that fellow citizens • “Workers of the world unite!”

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