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Society in Industrialized Europe

Society in Industrialized Europe. Economic Views. Capitalism – Idea of free and open competition among businesses, revolves around laissez-faire ideal meaning that business should be free of government regulation

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Society in Industrialized Europe

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  1. Society in Industrialized Europe

  2. Economic Views • Capitalism – Idea of free and open competition among businesses, revolves around laissez-faire ideal meaning that business should be free of government regulation • Adam Smith – leading proponent of laissez-faire economics and wrote Wealth of Nations • Thomas Malthus – Said poverty and misery were byproducts of industrialization and they would not go away.

  3. Economic Views • Socialism – Thought that government should own all business or property instead of individuals. • Robert Owen – Opposed laissez-faire ideal saying that government should control industry • Communism – government controls all means of production and all economic planning. • Karl Marx – with Freidrich Engels created the radical view of socialism called Communism; wrote Das Kapital

  4. Effects of Industrial Revolution Business leaders take on new role of entrepreneurs. Changed role of women to staying home and taking care of kids Women became the moral guidance of society International Power increased in Great Britain, France, and Germany Larger militaries and more advanced militaries were built Led to colonization and control of foreign lands Led to increased wealth Middle Class forms Led to ease of life for all in some way

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