New Ideas of the Industrial Revolution

Which of the following best describes the idea that government should not interfere with or regulate industries and business?

• Utilitarianism
• Socialism
• Laissez Faire
• Capitalism

Organize these options into the right categories

Groups:

(a) Capitalism

,

(b) Utilitarianism

,

(c) Socialism

,

(d) Communism

• 
• trade and industry are controlled by private owners for profit, rather than by the state.

• 
• 
• 
• 
• the means of production should be owned by the people rather than private individuals

• 
• 
• “the greatest happiness for the greatest number of citizens,”

• A class war would lead to a society in which property is publicly owned

• 
• 
• 
• 

What pamphlet was written by Karl Marx and Friedrich Engels that describes a radical form of socialism called Marxism?

• The Communist Manifesto

• The Wealth of Nations

• Iron Law of Wages

• Principles of Population

​ (a)   wrote Wealth of Nations in which he argued that​ (b)   was the best policy in which the law of ​ (c)   would govern a ​ ​ (d)  

• Adam Smith
• Laissez-Faire
• supply and demand
• free market
• Karl Marx

This person believed the population would out grow the food supply.

• Louis Pasteur

• David Ricardo

• Charles Darwin

• Thomas Malthus

What did Thomas Malthus discourage people from receiving. 

• education
• power
• stocks
• vaccinations

Famine seems to be the last, the most dreadful resource of nature. The power of population is so superior to the power in the earth to provide subsistence for man, that premature death must in some shape or other visit the human race. . .

–Thomas Malthus, “Essay on Population, ” 1798

This prediction proved to be wrong in part because of increases in

• ethnic cleansing

• farm productivity

• the number of wars

• the number of droughts

How would you summarize this quote: "As every individual, therefore, endeavours as much as he can both to employ his capital in the support of domestic industry, and so to direct that industry that its produce may be of the greatest value; every individual necessarily labours to render the annual revenue of the society as great as he can. He generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it."

• In conclusion, each person makes the most of his own work, and without realizing it helps others. What is good for the society, also happens to be good for individuals
• In conclusion, each person should focus on his own work and give his yearly salary to the public 

What theory did Karl Marx write about in "The Communist Manifesto?"

• Communism

• Capitalism

• Free Market Economy

• Laissez faire

​ In the ​ (a)   Karl Marx predicted that the ​ workers would unite along class lines and take control of the ​ (b)   , and end the class struggle between the •The ​ (c)   were the business owners or ​ (d)  

•The “have-nots” were the workers, or ​ (e)  

• Communist Manifesto
• means of production
• “haves”
• bourgeoisie.
• proletariat.