Industrial Revolution was when factories and machines were created. This impacted everybody from business owners to employees. Capitalism philosophy was to make profit is all they cared about. Communism philosophy was creating an equal system for people. This caused urbanization which made cities due because of jobs opportunities. The communism wanted to have an equal system because they got paid very little and poor working conditions. All of the workers got together and created labor unions. They began this because they didn't want to be poor anymore.
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Industrial Revolution-Transition to machines
-Increase in business -Improved systems of transportation,coommunication,and banking Vocabulary:Labor Unions: Group of workers that join to protect their rights
Laissez-faire: Type of goverment should not intervene in economy bussiness Socialism :Reproduction and distribution in the community Karl Max: He published The Communist Manifesto and Das Kapital Friedrich Engels: One of the major contributors to the communism |
Capitalism-Business owners and consumers
-Make money -Paying little to workers -Benefiting only for themselves |
Communism-Create equality between rich and poor
-Eliminate competition -Rule over goverment |