Essay on The Industrial Revolution

1326 Words6 Pages
Final Project

From the beginning of the Industrial Revolution to the present day, the structure and culture of the American workplace have been affected by many forces, among them capitalism, technology, globalization, and issues of equality. Describe these forces in detail and analyze their impact on the structure and culture workplace.

Capitalism
Capitalism is an economic system that is based on the private ownership of capital or the means of production and the creation of goods and services for profit. Some of the elements central to capitalism include capital accumulation, competitive markets and a price system.

Capitalism has been dominant in the Western world since the end of Mercantilism. It was fostered by the
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we refer to this group of people as the capitalist class. The majority of people must sell their ability to work in return for a wage or salary. the working class are paid to produce goods and services which are then sold for a profit. The profit is gained by the capitalist class because they can make more money selling what we have produced. In this sense, the working class are exploited by the capitalist class. The capitalist live off the profits they obtain from exploiting the working class whilst reinvesting some of their profits for the further accumulation of wealth.
This is what we mean when we say there are two classes in society. It is a claim based upon simple facts about the society we live in today. This class division is the essential feature of capitalism. It may be popular to talk about various other “classes” exiting such as the “middle class”, but it is the two classes defined her that are the key to understanding capitalism.
Profits
In capitalism, the motive for producing goods and services is to sell them and make a profit. this is not done to necessarily satisfy the needs of the people. The products of capitalist production have to find a buyer, of course, but this is only incidental to the main aim of making a profit, of ending up with more money than was originally invested.
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