As a political ideology, socialism arose largely in
response to the economic and social consequences of the Industrial Revolution
. There is an abundance of literature that attests to the dramatic way in which the industrialization of Europe affected the daily lives of individuals, particularly the working classes.
The basis for modern socialism primarily originates with the Age of Enlightenment and the accompanying rise of liberalism and the Industrial Revolution.
How did the Industrial Revolution lead to communism?
History. Communism emerged from the socialist movement of the 19th century Europe. When the Industrial Revolution came along,
socialists blamed capitalism and democracy for the proletariat’s
(a class made up of factory workers workings under dangerous conditions) hardships. … At first communism began with Marxism.
How did the Industrial Revolution lead to capitalism?
it replaced the domestic system by factory system and small scale production by mass production. Industrial revolution led to the rise of industrial capitalism and finance capitalism. … But with the
installation of big machines huge funds
were needed and a class of capitalist made its appearance.
Industrial Revolution and Robert Owen
Appalling conditions for workers, combined with support for the French Revolution turned some intellectuals to socialism. The pioneering work of Robert Owen, a Welsh radical, at New Lanark in Scotland, is sometimes credited as being the birth of British Socialism.
Karl Marx described a socialist society as such: … The same amount of labor which he has given to society in one form, he receives back in another. Socialism is a post-commodity economic system and production is carried out to directly produce use-value rather than toward generating profit.
- (1) Public Ownership: …
- (2) Central Planning: …
- (3) Definite Objectives: …
- (4) Freedom of Consumption: …
- (5) Equality of Income Distribution: …
- (6) Planning and the Pricing Process: …
- (1) Greater Economic Efficiency: …
- (2) Greater Welfare due to Less Inequality of Income:
socialism, social and economic doctrine that
calls for public rather than private ownership or control of property and natural resources
. According to the socialist view, individuals do not live or work in isolation but live in cooperation with one another.
A socialist economic system is characterized by
social ownership and operation of the means of production that may take
the form of autonomous cooperatives or direct public ownership wherein production is carried out directly for use rather than for profit.
The emergence of
capitalism
was vitally important to the start of industrialization and the Industrial Revolution. Capitalism caused the Industrial Revolution because industrialization required significant work and investment from individuals and not necessarily the government.
The main difference is that under communism, most property and economic resources are owned and controlled by the state (rather than individual citizens); under socialism,
all citizens share equally in economic resources as allocated
by a democratically-elected government.
Mechanization of the manufacturing process led to the Industrial Revolution which gave rise to two major competing economic systems: capitalism and socialism. … Under socialism,
the means of production is commonly owned, and part or all of the economy is centrally controlled by government
.
How did communism emerge as a response to industrial capitalism?
Alternate economic ideas emerged as new ways to address these problems.
Communism responded to the injustices of capitalism
. In communism, the people as a group own all property and the means of production. … Society makes all economic decisions based on the common interest.
Socialism is
an economic system in which there is government ownership
(often referred to as “state run”) of goods and their production, with an impetus to share work and wealth equally among the members of a society. Under socialism, everything that people produce, including services, is considered a social product.
What are the political effects of the Industrial Revolution?
Political Repercussions
The political implications of the American Industrial Revolution included
the rise of the United States as a global economic power, the clash between traditional culture and modern progress, and the passage of labor-related legislation
.
It began with utopian communities in the early 19th century such as the Shakers, the activist visionary Josiah Warren and intentional communities inspired by Charles Fourier. Labor activists, usually British, German, or Jewish immigrants, founded the Socialist Labor Party of America in 1877.
| Country Since Party | People’s Republic of China 1 October 1949 Communist Party of China | Republic of Cuba 1 January 1959 Communist Party of Cuba | Lao People’s Democratic Republic 2 December 1975 Lao People’s Revolutionary Party | Socialist Republic of Vietnam 2 September 1945 Communist Party of Vietnam |
|---|
A socialist economy
offers collective ownership
, usually through a state-controlled agency, worker cooperative, or outright state ownership with delegation to representatives. Socialist market economies generally discourage private ownership.
- 5.1 Utopian socialism.
- 5.2 Communism.
- 5.3 Marxism. 5.3.1 Leninism and Marxism–Leninism. 5.3.2 Stalinism. …
- 5.4 Anarchism. 5.4.1 Mutualism. 5.4.2 Collectivist anarchism. …
- 5.5 Democratic socialism. 5.5.1 Social democracy.
- 5.6 Eco-socialism. 5.6.1 Green anarchism.
- 5.7 Liberal socialism. 5.7.1 Ethical socialism.
- 5.8 Libertarian socialism.
Socialism denotes a broad system of ideas. Marxism is a
materialistic conception of history
which seeks to explain the development of all societies and furthermore, make predictions about future social change. … Whereas, socialists believe in equality and abolition of private enterprise.
What is this? Utopian socialism argues that,
for change to be possible, moral values and external conditions must change
whereas Marxism believes that revolution and socialism are the inevitable progression of the capitalist society.
Social Justice
: This is perhaps the greatest advantage of socialism. Socialism advocates for elimination of economic inequalities and the even and equitable distribution of the national income. Under socialism, everyone gets their fair share of the national wealth.
In theory, based on public benefits, socialism has the
greatest goal of common wealth
; Since the government controls almost all of society’s functions, it can make better use of resources, labors and lands; Socialism reduces disparity in wealth, not only in different areas, but also in all societal ranks and classes.
Advantages of Socialism
A
socialistic system ensures that no worker is exploited
. … According to the socialistic system, each person is guaranteed access to basic goods, even those who are not able to contribute. As a result, the system helps to minimize poverty levels in the society.
Disadvantages of socialism include
slow economic growth
, less entrepreneurial opportunity and competition, and a potential lack of motivation by individuals due to lesser rewards.
Disadvantages of socialism include
slow economic growth, less entrepreneurial opportunity and competition
, and a potential lack of motivation by individuals due to lesser rewards.
Capitalism is based on individual initiative and favors market mechanisms over government intervention
, while socialism is based on government planning and limitations on private control of resources.
Capitalism affords economic freedom, consumer choice, and economic growth. Socialism, which is an economy controlled by the state and planned by a central planning authority, provides for a greater social welfare and
decreases business fluctuations
.
The Industrial Revolution brought
rapid urbanization or the movement of people to cities
. Changes in farming, soaring population growth, and an ever-increasing demand for workers led masses of people to migrate from farms to cities. Almost overnight, small towns around coal or iron mines mushroomed into cities.
How did socialism challenge classical economics? Explain. Socialism:
Economic equality for all through the common ownership of all property
. … He believed in economic equality mostly rather than complete political equality.
Socialism emerged as
a response to the expanding capitalist system
. It presented an alternative, aimed at improving the lot of the working class and creating a more egalitarian society.
What were the economic responses to the Industrial Revolution?
The Industrial Revolution transformed economies that
had been based on agriculture and handicrafts into economies based on large-scale industry, mechanized manufacturing, and the factory system
. New machines, new power sources, and new ways of organizing work made existing industries more productive and efficient.
What reform movement came out of the Industrial Revolution?
For those in the industrial sector, organized labor unions fought for better wages, reasonable hours and safer working conditions.
The labor movement
led efforts to stop child labor, give health benefits and provide aid to workers who were injured or retired.
In fascism,
the central supremacy prevails
whereas in socialism, economic and social theories are given importance and social ownership is their primary aim. … In the system of fascism there is only private ownership but in socialism, there is public ownership of the resources.
In a purely socialist system,
all legal production and distribution decisions are made by the government
, and individuals rely on the state for everything from food to healthcare. The government determines the output and pricing levels of these goods and services.
