Notes 1.24.08 - Social Darwinism genetics explains the...

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Social Darwinism – genetics explains the superiority or inferiority of peoples, races, etc. Application of theory prevented people from intermarrying with different classes and different nationalities Natural abilities will result in guaranteed success Free Trade Capitalism By 1870’s almost all Westernized states supported and acted under the free market system When a depression hit, it shocked the West the market is supposed to be self- regulating they couldn’t explain why it happened Since everyone adopted the rational production model (and cheaper distribution/transportation) they had been mass producing and mass distributing around the world at an extremely high quantity Competition increased but the value decreased drastically (supply too high for demand) Depression never seen before because business cycles previously not observed Especially hard on farmers (food production increasingly reliant on exports), urbanization Capitalists responded with consolidation – merging businesses together
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This note was uploaded on 03/19/2008 for the course ISS 315 taught by Professor Hussain during the Spring '08 term at Michigan State University.

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Notes 1.24.08 - Social Darwinism genetics explains the...

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