The And The Industrial Man

In this chapter, Wheelan shares two lessons about the role of government in the economy. These are: First, he states that "the government must not be the sole provider of a good or service unless there is a compelling reason to believe that the private sector will fail in that role." He expounds further that the government will be freer to take care of things that need to be really handled by the government. There are things that the government should not be doing because when it dips its hands on that, it will presumably be inefficient. He cites the example of postal mail. He posits that the technology today has radically changed and things need to be implemented differently. The second point is that even if the government has an important role to play in the economy, it need not be the actual one to do the work (p 66).

The Industrial Revolution was a revolution in every sense of the word, as it altered almost every aspect of live in the nineteenth century including technology, government, communication, environment and eventually society as a whole.1 Although industrialisation created many positives for modern society, for people in Britain up to the end of the nineteenth century it had many significantly negative consequences. With the long term advances made for society came the then current development of overcrowding cities abundant with pollution, health problems and poor living conditions for the working class. These poor conditions continued into the work place with young children exploited as workers as young as the age of four or five.2 There were consequences of the Industrial Revolution for people outside of the core of Britain. India, being the periphery in the model were exploited for their raw materials which were exported to Britain.

The Industrial Revolution set people away from farms and small villages and moved them to cities and towns because of the job opportunities that arose in the cities. The Industrial Revolution not only helped people move along in the late 1700s and early 1800s but also it has made the people what they are today. During the Industrial Revolution, the movement from an agrarian society to an industrial one reshaped the roles of families, widen the gap between classes, and led to the developments in communication, transportation, and other scientific fields that completely changed humanity.

What are the main reasons why government should take only a limited role in a market economy?

Another economic concept is “Private Property”. Private Property is the right of private persons and firms to own property, land and resources. This allows businesses to own land and build what they want to build in order to successfully thrive in their work. Most of the country is privately owned by businesses, not the government. The government does have some power though, for example, a company may have to follow certain laws from OSHA, and can be shut down for disobeying laws. What this concept simply says is that anyone

As Milton Friedman once said, “Freedom is a rare and delicate plant. Our minds tell us and history confirms that the great threat to freedom is the concentration of power. Government is necessary to preserve our freedom, it is an instrument through which we can exercise our freedom; yet by concentrating power and political hands, it is also a threat to freedom.” Friedman’s “Capitalism and Freedom” takes us into the mind of an economic genius and shows us his beliefs in a free market and the threat it presents to a dictatorship. Friedman, clearly a supporter of the free market, gives examples to show how a free market can aid a society in striving for success, becoming more dominant, and becoming more powerful. Though, at times he does show how a free market has disadvantages and he makes us aware as to how it can aid people in gaining individualism, knowledge, and overall improving a society. A free market is one that the price of a good or service is determined by supply and demand, in theory, rather than by government regulation. Milton’s thoughts and theory is that through a robust free market with political freedom, economic freedom will follow. Showing how economic freedom is a crucial toward the success of political freedom, Friedman’s theory of a free market and the Do Nothing Principle are major themes throughout his book.

The Industrial Revolution became a defining transitional period in United States history. The Industrial Revolution created opportunities for society through, employment, higher pay and allowed for the meeting of many cultures. As a result of high employment opportunities, people flocked to the North and populated areas of the nation creating urban cities. Urban cities of the nation have not changed much since the Industrial Revolution; people are still drawn to the urban culture because of the variety in social and economic opportunities. The urban culture has allowed us to observe the interaction among various cultures and the development of the social class through time.

The Industrial Revolution is a technological phenomenon that still continues to this day, in the form of its fourth to fifth wave. Ever since the late 1700s, our society has evolved over nearly two and a half centuries, for better or for worse. However, most of the negatives then have disappeared into obscurity and the positives have only grown more and more. So while some might argue that Industrialization had primarily negative consequences for society because of child workers and the poor conditions, it was actually a good thing for society. Industrialization’s positive effects were the availability of goods, the advancements in technology and the new job market.

From the period of late nineteenth through early twentieth century, American civilization endured vast changes based on the western exploration of the country as well as the industrial revolution it had undertaken. The different genres of its people all endured hardships and historic changes from the times of the Native Americans being forced out of their lands, to changes in population with the amassing amount of immigrants and lack of jobs through the Gilded Age, all the way through the change of the United States becoming an empire based on its acquisitions. But through all these events whether viewed as positive or negative, the powers that were in control, always viewed these changes as progression of the country.

We live in a world controlled by an invisible yet very present force that shapes the way we live our daily lives. With industry as its host and technology as the blood being pumped into its heart, it is a force powerful enough to bend politics to fit its needs. Capitalism; a method of industry where production and distribution are privately or corporately owned, its operation grows through profits, exploitation of labor, and extinguishing competition. During the Industrial Revolution technology was on the global stage. Factories and machines are built in existing cities producing and distributing mass goods on a global scale. Over time this fast production of goods would replace the old agricultural economy to a modern urban economy. Today the revolution is praised for creating a global trade market while surging us into a world of technology.

Capitalism and Freedom, written by Milton Friedman, seems to focus significantly on the connections between the economics and politics, and the effect that those have in various aspects of society. This relationship was referred to throughout the book, and the topics Friedman discusses ranged between governmental control of money, to foreign policy and trade and the effect that has on our economy. Through the course of the book, Friedman constantly refers to his “classical liberal” view, which focuses on the freedoms and power of the individual in society. Friedman shows his support of this view during the book using the idea of a laissez-faire government. For Freidman, government involvement in issues regarding society should

America has been expanding and growing since its birth out of Great Britain. The Industrial Revolution has been an influence in the American life since it first in the 1700s. “Most families did not have enough to sell at the market- they had just enough for their own needs.” Up until the factories started booming and employment rates skyrocketed, people really couldn’t become wealthy and live a decent life. As the ways of farming grew the English at the time began to use up more and more land efficiently. “Unusable swamplands could be drained and used for crops.” That’s absolutely amazing that in this era they could turn swamps into areas to raise more crops so they can naturally make more money at the markets and become a bit wealthier. Farming is one of the most important lively hoods of mankind; no matter what argument anyone tries to make. If we didn’t have farming and agricultural production we wouldn’t have all the different sorts of food products we do, nor would they be as abundant. Life would be like it was before the Industrial Revolution came about and most of us would still be growing our own food and barely scraping by in life. With all this agricultural expansion of the time population in England start expanding drastically as well. Thanks to population growth people started to worry more about new inventions and producing stuff for us to make our day to day lives easier than we could have ever before. With all the technological advancements leading up to

Milton Friedman’s Capitalism & Freedom is one of the most important books regarding economics of the 20th century. His thoughts laid the groundwork for the emerging modern conservative movement, which was an evolution of the 19th century beliefs surrounding liberalism. Friedman’s major themes of his most famous work consist of the roles of competitive capitalism, as well as the role that government should play in a society “dedicated to freedom and relying primarily on the market to organize economic activity.” The book touches on a multitude of other economic issues; however, his first two chapters regarding the major themes of the book are most

Think about your life for one second: you communicate with people, travel, make purchases, and utilize those commodities. But have you ever wondered what made those things possible? After all, you go to the store to buy things you need. You drive a car to work and to visit your friends. If you need to talk to someone, you simply pick up your phone or computer. However, none of this would be possible without a means of communication, factories to manufacture the products you need, places to work, and ways to travel and transport goods. And what made these possible? The answer is the Industrial Revolution, which started in Europe around the year 1730. A revolution is a major change or turning point in something. The Industrial Revolution

The Industrial Revolution was the quintessence of capitalistic ideals; it bred controversy that led to Karl Marx’s idea of communism as a massive grass roots reaction to the revolution’s social abuses. Firstly, the Industrial Revolution featured the construction of machines, systems and factories that allowed goods to be manufactured at a faster rate with a lower cost. The seed drill made it so there could be “a semi-automated, controlled distribution and plantation of wheat seed”(Jones 2013). Secondly, there was a great social and economic divide between the wealthy owners and the poor workers, which gave rise to the mass’s vulnerability to the advent of extreme socialism. Figures of authority severely oppressed their employees by giving them insufficient pay, a treacherous work environment, and even making some children work more than 12 hours per day (Cranny 150). Finally, far right capitalism created a brutal boom and bust cycle of economics that made, for the multitude at the bottom, a perpetual nightmare of poverty and death. People responded to this social situation by taking part in violent protests; oppression sires rebellion. The Industrial Revolution was the chassis of great imagination and progress of political, economic, and social force that still affects this world today.