As a political philosopher, Marx disapproved of the capitalist system; particularly on the way how production was run. Therefore along with other economists, Karl Marx created communism. Marx’s communism is described to have no class structure and the wealth of production is served to reach the needs of common good. Both Adam Smith and Karl Marx were writing in different socio- economic times, hence it is not surprising that their ideas conflicted with each other. Adam Smith lived through a mercantile system, which he highly opposed therefore the idea of a free market system seemed to be the best solution in a time period before the industrial revolution.
SS Gateway Day 4 The age of Imperialism made way for (and was even influenced by) some of the most prevalent inventions, ideas, and innovations in todays world. Imperialism as defined by historians is said to be “a policy of extending a country’s power and influence through diplomacy or military force.” Although this definition is held true to many examples of Imperialism, the actual causes of imperialism can be greater accredited to what is known is the Industrial Revolution. Without the Industrial Revolution and the ideas flowing into the world at the time; Imperialism may have been nothing but a word. The Industrial Revolution was essentially a mechanical and emotional means of progress for the world. The ability to grow coupled with the will to grow both directly influenced imperialism.
Great Britain was the first nation to industrialize by around one hundred years. Having this big of a gap allowed them to completely dominate the rest of the world in means of production. Not only did Great Britain increase production as a result of the Industrial Revolution but they also were able to produce more products quicker and more efficient. Giving them more product for the required labor, which allowed the nation’s economy to grow because with the extra product they could use it for trade. Natural resources are the key to Great Britain’s economic dominance and success during the 18th and 19th centuries.
The Europeans asserted their dominance over these less-developed areas for economic reasons, but also to spread European customs and heighten the sense of pride they had in their nation. Therefore there were a number of economic, political, and social reasons that caused the start of new imperialism in the late nineteenth and twentieth centuries. New imperialism in Africa and the Middle East was mainly driven by economic forces. After the Industrial Revolution nations were taking raw materials and producing them into finished goods at a much faster rate. Since they were making finished goods more quickly, the demand for raw materials in factories rose, which led to the colonization of less-developed areas (Document 1).
Big, successful cities are driven by capitalists towards a destination where only money and power matter – not much else. Socialists, however, drive towards community and fairer places where money is spread out more equally between the people. Which was Priestley? A socialist. A socialist who believed his literature could change views – even lives!
One major component leading up to this was the Industrial Revolution. “The Industrial Revolution, one of the most vital periods of change in Great Britain, occurred because of the stable economic, social, and political stance of the country, as well as brought lasting effects in Britain in each of these areas” (“The Industrial Revolution in Great Britain”).The Industrial Revolution made Britain the leading industrial power in the world. Also, it increased the creation technology and the changed the socioeconomic status of many of their citizens. It was also the Industrial Revolution that caused Britain to seek out a new source of raw material, leading them to extend their power to that of other countries. With their previous control in India and Africa, the British nation had the tools in needed to develop into the imperialist power it would.
Social consensus is a key belief of functionalism. It allows society to continue to progress because the theory believes that we have shared norms and values in society which we must follow. Another sociological perspective that I will be explaining will be Marxism. It is a structuralist theory but it is based on conflict rather than consensus. Marxists believe that the bourgeoisie (people in a higher social class) exploit people that are in the working class to make their profits.They argue that institutions are organised to benefit the ruling class.
The industrial revolution had a profound socioeconomic effect on the world, and Britain became its driving force due to its technological advances, such as James Watt’s steam engine; and Abraham Darby’s use of coke to smelt iron ore. These inventions were able to increase the production of goods by cutting down the time and effort needed to make them. There were several effects to Britain, and indeed the world, because of these developments. Britain manufactured products using raw materials. Raw materials do not make as much money as manufactured products on the world market, as a result industrialized countries made more money.
Incentives: The Roots and Core of Economics Economics is a social science that analyzes how society produces, distributes, and consumes its resources such as goods and services. The tools of economics can be easily applied to subjects of everyday life. According to Steven D. Levitt in his Freakonomics, economics at its root is essentially the study of incentives: something that induces people to act. Levitt illustrates that economic, and even social and moral decisions, are made by comparing the costs and benefits of incentives. Incentives are offered to people in order to induce them to make certain choices or behave in a certain way.
Hollis) lead to an economic domination of the countries as well as economic development faster than would have happened on its own. A famous British economist, J. A. Hobson and following him, Lenin, attributed these colonial expansions of these years to new economic forces at work in the most industrialized nations of western and central Europe. This economic explanation of the urge to imperialism is usually taken to mean that the basic motives were also the basest motives and that, whatever political, religious, or more idealistic excuses might be made, the real impulse was always one of capitalistic greed for raw materials, advantageous markets, good investments, and fresh fields of exploitation. The argument or what Hobson called “the economic taproot of imperialism” was excessive capital in search of investment, and that this excessive capital came from over saving made possible by the unequal distribution of wealth.