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Credit banks – created by the government to lend money to people with good ideas for businessesInsisted the government had to intervene if a good business for the economy was failingToo big to failLouis Blanc Wrote “The National Workshop”In times of great economic distress, the government must step in and hire the unemployed so they have enough to live on and not starve to deathThis would make the economy start to function again
Karl Marx (1818-1883)1848 – Marx and Frederick Engels (colleague) put out a pamphlet called “The Communist Manifesto”Das Capital (Capital) 3 volumes1stvolume published 1867 – entirely by Marx2ndvolume published 1885 – finished by Engels3rdvolume published 1894 – based on Marx’s notesMaterialism – it is the economic system that determines everything about a society“Economic base”Superstructure – what is on top of the economic baseDialectical – if you come up with a thesis (idea) you can come up with the antithesisPut them together in conflict and you get the synthesisSynthesis becomes the next thesis, then the antithesis is determined creating the next synthesis and the cycle continuesHistory is the account of economic systems moving through the dialecticalFirst dialecticalPrimitive communism vs. private propertyTogether they create the slave societies of Greece and Rome1830s thesis – capitalismAntithesis – proletariat (unskilled working class)Synthesis – perfect communismThe motor of this dialectical has been class warfareWhen there are no more social classes, there will be perfect communism forever after thatRobert OwenBritish factory ownerBuilt a factory town near New Lanark, ScotlandPaid workers for more than the minimum wage Allowed for wagesGave families of workers a small house and garden plotEncouraged workers to work harder Increased productivityRestoration EuropeHenry KissingerWrote “A World Restored”After 1815, Europe split into 2 partsRussia and Austria thought change was bad and did everything to resist itTogether they could keep much from changing everywhere east of FranceGreat Britain and France were the first to embrace the Industrial Revolution
Prussia tried to embrace the Industrial Revolution while rejecting the French RevolutionChange in EuropeGreat Britain1815 – 1 in 12 adult males had the right to vote in the House of CommonsDesire to expand suffrage to include more men in the middle classThe middle class was growing because of the Industrial Revolution1832 – 1stReform BillSponsored by Lord Earl Grey (Prime Minister)Redistricted Great BritainAdded a substantial number of adult males to be able to vote1 in 8 could vote1846 – Corn LawLed by Robert Peel (Prime Minister)Created first police force in London called “Bobbies”Wheat is called corn in Great Britain