PHILOSOPHY OF INDUST - The Philosophy of the Industrialists...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
The Philosophy of the Industrialists 1. A. Laissez-faire capitalism/Adam Smith – The idea of Laissez-faire had the strong support of Adam Smith who felt that individuals who strived to be successful in business must follow their own self-interest. He felt that by them following their own interest, it in-turn would help the society grow. With the idea of Laissez-faire comes the view that government intervention only helps prevent business growth and should be avoided at all costs. B. Social Darwinism - This basically applies the ideas of Charles Darwin to society. Emphasizing the idea of “survival of the fittest”, Social Darwinism means that individuals who are constantly contributing to society are to receive a reward in return. Thus causing them to continue to contribute to society and aiding to growth and development. C. The Gospel of Wealth - A philosophical view of Andrew Carnegie who wanted to educate the wealthy on how to spend their money wisely. This involves trying to produce as many positive results for the community so that the man of wealth becomes the superior in the eyes of the common man. 2. Social Darwinism states that individuals who contribute to the societies’ growth and development will be rewarded, thus encouraging individuals to do so. By working
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/08/2010 for the course PHYS 125 taught by Professor Kawar during the Spring '10 term at American Public University.

Page1 / 2

PHILOSOPHY OF INDUST - The Philosophy of the Industrialists...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online