This website uses cookies to ensure you have the best experience. Learn more

The Effects Of Industrial Capitalism Essay

940 words - 4 pages

“Adam Smith argued that Individuals who were allowed to pursue rationally their own economic self-interest would benefit society as well as themselves” (Sherman & Salisbury, 2008, p.187). This argument helped industrial capitalism grow in the 19th and 20th centuries. Industrial capitalism affected the bourgeoisie and the working class. Although the bourgeoisie gained money and power, the working class suffered through poor working conditions.
The bourgeoisie, also known as the middle class, gained money and power as the industrial capitalism got stronger. They consisted of merchants, tradesmen, and professionals. In the middle class, the men worked outside the home to support their families, while the women stayed at home to take care of the house and children. Unfortunately, the lower class was unable to do the same. All the members of the family had to work to support each other. Dennis Sherman and Joyce Salisbury ( 2008) state in the textbook “The West In The World”, that the people of the working class had to work six days a week, twelve to sixteen hours a day, earning only a small amount of money ( p.277).
The bourgeoisie and the lower class regarded their children differently. The middle class treasured their children and gave them an education; therefore, they had the chance to become successful in their life. On the other hand, the working class cared for their children, but they also needed them to work as well. In the workplace, children were mistreated. For example, if the children did not perform well they were chained to the machines and whipped. “One governmental investigation of child labor described how children were rendered pale, weak and unhealthy from laboring for hours like little slaves” (Sherman & Salisbury, 2008).
In the bourgeoisie class, the bankers, factory owners, and other businesses earned substantial amounts of money and gained political power from the industrial capitalism. They used this power to suppress the working class. The working conditions in the factories were horrendous. The women received one-third less wages than men. In addition, the children obtained a mere fraction of that pay. Therefore, factories employed women and children more often than men. The owners even created contracts with orphanages to hire cheap child laborers to save money (Sherman & Salisbury, 2008, p. 277).
In the 19th century, industrial capitalism began to gain more power in the form of monopolies. Rockefeller’s Standard Oil Trust was one of these monopolies. His company destroyed smaller and weaker oil companies to become a larger corporation.
On May 15, 1911, the Supreme Court of the United States ruled that the Standard Oil Cartel was a menace to the Republic and ordered it to be broken up:
"For the safety of the Republic we (U.S. Supreme Court) now decree that the...

Find Another Essay On THE EFFECTS OF INDUSTRIAL CAPITALISM

The Influence of the Communist Manifesto on the Development of Industrial Capitalism

1468 words - 6 pages The Communist Manifesto left a tremendous impact on a society that was rapidly becoming industrialized, and its effects can even be seen on the dominating economic system of the twenty-first century. In the later nineteenth century, however, industrial capitalism was on the brink of ruin. “On many occasions during the past century, Marxists have thought that capitalism was down for the count . . . Yet it has always come back with renewed

Harmed or Harnessed? The Effects of Capitalism on China

2474 words - 10 pages compared to other countries from 1978 to 2011 (Ross 1). While there have been many positive effects of capitalism in China, there are also considerable drawbacks. When China first began capitalistic reforms in the late 1970s, scholars believed that Western style democracy and rights would come after the reforms (Glassman). However, these rights have been slow to come. Freedom of speech, a right most westerns take for granted, is often censured in

The Postive and Negative Effects of the Industrial Revolution

621 words - 3 pages which then made them easier for some and more complex for others. Science had started these great inventions and started to grow so much that one day the will make the people of the future stupid. The Industrial Revolution had both positive and negative effects. Some of the positive affects were that it created many more jobs and with the great invention of the Steam engine travel was a lot faster and simpler. Another positive affect of the

The Far-Reaching Effects of The Industrial Revolution

1103 words - 4 pages became a phenomenon that brought profit and gave domestic workers job opportunities. Industrialization was one of the major aspects during the Industrial Revolution. It brought changes in organization of production, managerial oversight and relationship between employer and labourer had changed as well. Old relationship between master and his worker disappeared because now hundreds of workers were employed in the company. Because the

Effects of the Industrial Revolution on Great Britain

916 words - 4 pages various customers. Corporations used the financial aid from the sales of stocks to progress their company in a realistic manner. Through the use of different business techniques to promote the construction of factories around the country, Great Britain was able to surge up as an economic power in the world. While the Industrial Revolution generated many positive, long-term effects that followed in history, the short-term consequences in Great

Positive and negative effects of the Industrial Revolution

630 words - 3 pages The most widespread, influential transformation of civilized life since the creation of agriculture thousands of years before, was the industrial revolution that took place in eighteenth century Europe. The results of this revolution would forever change human labor, consumption, family structure, social structure, and even the very thoughts of an individual. The industrial revolution was driven not only by technological improvements and

The Paradox of Capitalism

2533 words - 11 pages advantages of capitalism without ignoring the possible detrimental effects, Furthermore, Marx primarily focuses on the dangers of capitalism while Durkheim disregards Marx’s notion that capitalism is the root cause of conflict. Instead he insists that capitalism in fact serves as a function that benefits society as a whole, and recognizes the dangerous vulnerability it places human beings in. First, we must contrast the benefits and dangers of

The Inevitability of Capitalism

1297 words - 5 pages economics. Her attempt to redefine economic theory based solely upon her own biases is clear and does nothing to support her argument against capitalism being a natural process. Moving on to chapter 3, she describes some of the effects of scarcity that the pre-capitalism society experienced, with regard to farming and famine. She relates this: “Public authorities kept a weather eye on each year’s harvest as it came into the granaries to be stored for

The History of Capitalism

1434 words - 6 pages The History of Capitalism Capitalism is based on the same principles as mercantilism. The accumulation of means, materials, land and other things, this accumulation is called capital and “the property-owners of these means of production are called capitalists” (Hooker 2). Productive labor, human work that is necessary to make goods and distribute them, takes the form of wage labor. “The means of production and labor is manipulated by the

The contradictions of Capitalism

1536 words - 7 pages Capitalism controls or enslaves the laborer by making his existence dependent on the process of production instead of the production of the labor for himself. The laborer is historically different in a capitalist society because he is separated from production. He no longer produces for himself but instead for the general wealth, or the wealth of the capitalist. Capitalism controls even the capitalist himself by turning him into a mechanism

the future of capitalism

2232 words - 9 pages Third World History Book Report .      This book report reflects upon the writings of Lester C. Thurow in his 1996 book - "The Future of Capitalism". Thurow is a professor of economics at M.I.T. School of Management and has been a contributing editor to the Newsweek journal. "The Future of Capitalism" is an analytical look at the state of world economics in the late Twentieth Century. Thurow

Similar Essays

Effects Of The Industrial Revolution Essay

871 words - 4 pages populaces. The Industrial Revolution extensively changed daily life of the 18th and 19th century through technological advancements, changes in society, and population changes. One of the greatest effects of the Industrial Revolution was technological advancements. Inventions such as the flying shuttle, spinning jenny, and power loom rewarded pioneering nations with prestige and technological superiority (Rogers). English iron purification

Effects Of The Industrial Revolution Essay

1319 words - 5 pages The Industrial Revolution that took place throughout the 18th and the 19th centuries had major effects which influenced every aspect of society and life such as, urbanization, imperialism and nationalism. The industrial revolution had an unfathomable effect on shaping the modern world to what it is today. Before the revolution, society revolved around farming and agriculture. There were only two social classes, the nobility and the working

Capitalism And The Industrial Revolution Essay

1742 words - 7 pages The Industrial Revolution of the eighteenth and nineteenth centuries was arguably the most important turning point in history. It transformed the manufacture of goods from craftsmanship to commercialism, exponentially increasing output and decreasing production cost leading to prosperity and an unprecedented supply of goods for the markets of the world. Industrialization and mass production was the fuel which ignited the flame of capitalism

"The Effects Of The Industrial Revution"

861 words - 3 pages there in the world much better than the people who did not. The Industrial Revolution had its benefits but to the majority of the people it brought them a ruinous life no matter where they were the effects were spread all around the world.