Some Consequences of Industrial Revolution
Roaming Historian・13 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.
Get key ideas from YouTube videos. It’s free
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.
Related videos
CrashCourse
Capitalism and Socialism: Crash Course World History #33
CrashCourse
The Roaring 20's: Crash Course US History #32
Lifeder Edu
¿Qué es el CAPITALISMO y cuáles son sus características? Representantes, ventajas y desventajas💰
Free To Choose Network
Milton Friedman Speaks: Is Capitalism Humane?
ReasonTV
Capitalism vs. Socialism: A Soho Forum Debate
Summary
00:00
Rise of Capitalism in Late 19th Century
- The late 19th century saw the rise of laissez-faire ideology, emphasizing government non-intervention in the marketplace.
- Despite the laissez-faire concept, the government passed laws favoring capitalism, such as the Sherman Antitrust Act of 1890.
- Workers often viewed capitalists negatively, labeling them as "robber barons" due to their perceived exploitation.
- The Gospel of Wealth, advocated by Andrew Carnegie, proposed giving away wealth during one's lifetime rather than leaving it to heirs.
- Social Darwinism, based on survival of the fittest, was embraced by business leaders and wealthy Americans, justifying social hierarchies.
- Social Darwinism's pyramid model reinforced racial and social hierarchies, leading to discriminatory practices and eugenics.
- The mass market perpetuated consumerism, encouraging individuals to buy goods to maintain social status, creating a cycle of indebtedness.
- The cycle of capitalism, fueled by consumerism and social hierarchies, kept individuals working to maintain their perceived social standing.
- The consequences of the Industrial Revolution, including laissez-faire policies, wealth distribution, and social Darwinism, shaped societal norms and economic structures.
- The intricate and nuanced nature of these consequences highlights the complexities of the time period, encouraging further discussion and exploration.
