Machines! Who Knew, Right?
The Industrial Revolution was a time of great increase output of machine-made goods. This revolution started in Britain because of industrialization. Britain had all of the factors of production, land, labor, and capital, and natural resources, like coal, iron, rivers, and harbors. Changes in the textile industry were being made. Weavers made work faster with flying shuttles and spinning jennies and water frames used water power to drive spinning wheels. Factories, buildings that contained machinery for manufacturing, were booming and providing more jobs. People were moving from rural areas in the country, to urban areas in the cities.
One of the economic philosophers of the time was a man named Adam Smith. He defended the idea of a free economy or free markets and is known for his book The Wealth of Nations. He believed that the three laws of economics were, 1) the law of self interest, 2) the law of supply and demand, and 3) the law of competition. Thomas Malthus believed the natural law governed economic life and his ideas were the foundation of capitalism. Charles Fourie and Saint Simon said socialism was that the factors of production were owned by the public and operated on the welfare of all. Karl Marx helped write The Communist Manifesto, which started communism, a form of complete socialism.
Anarchism si the theory that equality and justice are to be sough through the abolition of state and the substitution of free agreements between individuals. So, in other words, it's a system of government where the people govern themselves. Free enterprise is the engine of a free society that's driven by what Adam Smith called and "invisible hand." People choose services, products, and ideas that they consider most beneficial and to towards livelihood generating their own greatest personal gain. During this time with so many changes, some people thought the country was loosing its nationalism. Nationalists believed that there was nothing really wrong with capitalism, they just thought it should be regulated and benefit the nation as a whole. Nationalism was just another political view during this time that wanted the best for their country.
One of the economic philosophers of the time was a man named Adam Smith. He defended the idea of a free economy or free markets and is known for his book The Wealth of Nations. He believed that the three laws of economics were, 1) the law of self interest, 2) the law of supply and demand, and 3) the law of competition. Thomas Malthus believed the natural law governed economic life and his ideas were the foundation of capitalism. Charles Fourie and Saint Simon said socialism was that the factors of production were owned by the public and operated on the welfare of all. Karl Marx helped write The Communist Manifesto, which started communism, a form of complete socialism.
Anarchism si the theory that equality and justice are to be sough through the abolition of state and the substitution of free agreements between individuals. So, in other words, it's a system of government where the people govern themselves. Free enterprise is the engine of a free society that's driven by what Adam Smith called and "invisible hand." People choose services, products, and ideas that they consider most beneficial and to towards livelihood generating their own greatest personal gain. During this time with so many changes, some people thought the country was loosing its nationalism. Nationalists believed that there was nothing really wrong with capitalism, they just thought it should be regulated and benefit the nation as a whole. Nationalism was just another political view during this time that wanted the best for their country.