Industrial Revolution - PowerPoint PPT Presentation

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Industrial Revolution

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Industrial Revolution Economic Philosophies Capitalism Founders: Adam Smith Thomas Malthus David Ricardo Capitalism Classic Works: Smith The Wealth of Nations (1776 ... – PowerPoint PPT presentation

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Title: Industrial Revolution


1
Industrial Revolution
  • Economic Philosophies

2
Capitalism
  • Founders
  • Adam Smith
  • Thomas Malthus
  • David Ricardo

3
Capitalism
  • Classic Works
  • Smith The Wealth of Nations (1776)
  • Malthus Essay on Principle of Population (1798)
  • Ricardo Principles of Political Economy and
    Taxation (1817)

4
Capitalism
  • Philosophy
  • Free market economy
  • Laissez-faire (Hands off)
  • Little to no government intervention in economy
  • Allow the market to regulate itself
  • Goal of business is to make profit

5
Capitalism
  • Reforms
  • Opposed to any government efforts to become
    involved in economic affairs

6
Socialism
  • Founders
  • Charles Fourier
  • Saint-Simon

7
Socialism
  • Classic Works

8
Socialism
  • Philosophy
  • Government should actively plan the economy
  • Public ownership over factors of production

9
Socialism
  • Reforms
  • Public ownership would eliminate social problems
    associated with industrialization
  • Greed
  • Corruption
  • Poor working and
  • living conditions
  • Class structure

10
Communism
  • Founders
  • Karl Marx
  • Fredrich Engles

11
Communism
  • Classic Works
  • The Communist Manifesto (1848)
  • Das Kapital (1867)

12
Communism
  • Philosophy
  • All factors of production should be owned and
    controlled by the government

13
Communism
  • Reforms
  • Private property would cease to exist
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