Some Consequences of Industrial Revolution
Roaming Historian・2 minutes read
The late 19th century saw the rise of laissez-faire ideology and government intervention favoring capitalism, leading to negative views of capitalists among workers. Social Darwinism justified social hierarchies, perpetuating consumerism and maintaining a cycle of capitalism that shaped societal norms and economic structures.
Insights
- The government's passage of laws favoring capitalism, like the Sherman Antitrust Act of 1890, contradicted the laissez-faire ideology popular in the late 19th century.
- Social Darwinism's influence on business leaders and wealthy Americans justified social hierarchies, leading to discriminatory practices and reinforcing racial and social disparities.
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Recent questions
What is laissez-faire ideology?
Hands-off government approach to the marketplace.
What is the Sherman Antitrust Act?
Legislation favoring capitalism passed in 1890.
Who advocated the Gospel of Wealth?
Andrew Carnegie proposed giving away wealth.
What is Social Darwinism?
Theory justifying social hierarchies based on survival of the fittest.
How did consumerism perpetuate indebtedness?
Mass market encouraged buying to maintain social status.
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