Industrial Revolution Open Response
Capitalism built the Industrial Revolution and helped mankind advance, the effects of the Industrial Revolution politically created new forms of governments such as socialism and communism. Capitalism was reflected by the Industrial Revolution because the economy was a capitalist economy. This meant that private business’s produced products that were cheap and useful. The business men also known as entrepreneurs at the time invested into business ventures to make a profit. In this way the economy was built as a capitalist economy and the idea of capitalism was reflected upon the Industrial Revolution. However the problem with capitalism at the time was that the workers and the wealthy were worlds apart money wise. The owners paid the workers who would commit to doing all the hard labor, very poorly. As the workers started forming unions and taking ideas for better working conditions and a more fair pay the idea of socialism was born. Socialist hoped for the government to control the economy instead of small business owners who were treating their employees poorly and without “fair” pay. They believed through government poverty could began to end and the gap between the wealthy and poor would be bridged. Socialist just looked to government to make life better for them instead of suffering at the hands of small business owners, their idea to end capitalism was socialism. Communism is in fact an extreme form of socialism. Karl Marx, a communist believer believed that the Industrial Revolution enriched the wealthy and made the poor, poorer. He predicted that eventually the workers of the Industrial Revolution would go on strike and overthrow the small business owners. When this would occur the workers would than dictate the government and control the economy along with everything else. The only rule is that everyone would remain equal to one another. Capitalism the form of government which produced the Industrial Revolution...
Please join StudyMode to read the full document