Industrail Revolution in engla

A detailed Summary of Industrail Revolution in engla

The Industrial Revolution in Great Britain

In the economy that resulted from the Industrial Revolution, a few people became enormously rich, but most remained poor. The uneven distribution of wealth disturbed many people. Some reformers became convinced that laissez-faire capitalism was not the best economic system. They argued that laws could not do enough to remedy inequalities. The only way to distribute wealth more evenly was to change the ownership and operation of the means of production.

Some reformers of the 1800s advocated a political and economic system called socialism. In this system the government owns the means of production and operates them for the welfare of all the people. Socialist wanted to establish an economic system that would abolish the profit motive and compet

In conclusion, the Industrial Revolution had a big change in the ways that people thought about the government reforms in Great Britain. Many new ideas came to power, and many things changed.

ition. They believed that everyone, not just capitalist and owners, had a right to share in the profits of industry. The early socialists believed that people could live with each other if they lived in small cooperative settlements, owning all the means of production in common and sharing the products. The socialists tried to work out detailed schemes for model communities and then tried to persuade people to set up the communities. These early socialists were sometime called utopian socialists.

Another idea that arose during this time was Marxism. Marxism was a belief that arose to power at the h

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Approximate Word count = 540
Approximate Pages = 2 (250 words per page double spaced)

Category: History

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