Working class - realize a profit If they are inefficient...

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Working class (proletariat) -Blue –collar workers: factories, mills docks, -Producer of mass-produced good -Low wages compelled children and women to also work Middle Class (bourgeoisie) -White-collar workers: banking, accounting, management, and office clerks -Main consumer of mass-produced goods Held the laws of supply and demand determine what happens in the marketplace. The role of lasissez-faire Through an invisible hand self-interest guides the most efficient use of resources State and personal efforts to promote social food are ineffectual compared to market forces If businessmen organize their affairs efficiently they
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Unformatted text preview: realize a profit If they are inefficient they incur losses or may even lose their businesses Society are a whole prosper warn individual pursue their own economic interest Modern capitalism. Frederick Winslow Taylor Scientific methods applied to production:-Assembly-line system-Speedups to increase productivity-Higher Wages-More strenuous work Using the writing from Robert Own, Louis Blan, or Marx and Engels, explain the sot writers solution to the problems of industrialization and Capitalism, Who or what was/were needed to realize the solution?...
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This note was uploaded on 04/09/2012 for the course HISTORY 102 taught by Professor Ono during the Spring '12 term at Johnson & Wales University- Charlotte.

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