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Deborah Park
Drs. Anderson & Karjala
American Civilization II
October 19th, 2015
Capitalism & Inequality during Industrial Revolution July 4th, 1776, Declaration of Independence was written. The second paragraph specifically ensures the equality of all men and women. The founding fathers wanted no one to be considered less than one another. As capitalism was introduced to the U.S during industrial revolution, this is the time period where inequality occurs drastically economically. History of the industrial revolution is the proof, as long as private property right exists, capitalism will strive on and inequality is inevitable. Let?s talk about inequality resulted from capitalism along gender lines. Capitalism has given people …show more content…
We might think the industrialization enhanced social mobility. Professionals, Intermediates, Skilled, Semi-Skilled, and Unskilled were five classes generated during Industrial revolution. Professionals could be lawyers, doctors, and clergymen. Intermediate usually refers to teachers, managers, and clerks. Skilled refers to carpenters and plumbers. Unskilled are those who are laborers (Mantoux). For professionals, 54% their sons at marries other professionals and only 5% will marry unskilled people. About 60% sons usually have the same occupational status as others (Mantoux). We can see quite clearly if you are born of a rich family, you are most likely to stay rich generations after generations. If you are born of a poor family, it is not easy to move up on the social status ladder. Author Mantoux specifically points out the unfairness of capitalism, he says, ?Differences in levels of cognitive and noncognitive skills by family income and family background emerge early and persist. If anything, schooling widens these early differences.? Set family as a unit, capitalism during the industrial evolution spiked the division of labor. In capitalism, a family?s status unfairly decides the wealth fate of their …show more content…
Would capitalism drive us to an inhumane country? Is Capitalism something that is only bad? Could we have avoided Capitalism? Capitalism is a system of economic and social relations market by private property, the exchange of goods and services by free individuals (Williamson). In another words, Capitalism made it possible for us to have something that is close to the concept of the free market, which is full of opportunities and room for economic growth. The elements of capitalism have been around for a long time but it was only to the seventeenth and eighteenth century that the ideas of capitalism actually blossomed in the world of Economy. Prior to capitalism, government institutions ruled the economy and the society. These institutions wrote their policies and ran the economy only with their knowledge of traditions of religions (Newhall). The economy was so much bigger than that. The market adapts to new players and new ways to exchange all the time. Before Capitalism, these institutions were afraid to make changes so that the markets were able to have room for growth. The government stopped people from making economic progress. The government was like the parents who were overly protective; they did now allow the kids to have any room to grow mentally and physically. During industrial revolution, the economy was growing fast and quick, if the government has
Deborah Park
Drs. Anderson & Karjala
American Civilization II
October 19th, 2015
Capitalism & Inequality during Industrial Revolution July 4th, 1776, Declaration of Independence was written. The second paragraph specifically ensures the equality of all men and women. The founding fathers wanted no one to be considered less than one another. As capitalism was introduced to the U.S during industrial revolution, this is the time period where inequality occurs drastically economically. History of the industrial revolution is the proof, as long as private property right exists, capitalism will strive on and inequality is inevitable. Let?s talk about inequality resulted from capitalism along gender lines. Capitalism has given people …show more content…
We might think the industrialization enhanced social mobility. Professionals, Intermediates, Skilled, Semi-Skilled, and Unskilled were five classes generated during Industrial revolution. Professionals could be lawyers, doctors, and clergymen. Intermediate usually refers to teachers, managers, and clerks. Skilled refers to carpenters and plumbers. Unskilled are those who are laborers (Mantoux). For professionals, 54% their sons at marries other professionals and only 5% will marry unskilled people. About 60% sons usually have the same occupational status as others (Mantoux). We can see quite clearly if you are born of a rich family, you are most likely to stay rich generations after generations. If you are born of a poor family, it is not easy to move up on the social status ladder. Author Mantoux specifically points out the unfairness of capitalism, he says, ?Differences in levels of cognitive and noncognitive skills by family income and family background emerge early and persist. If anything, schooling widens these early differences.? Set family as a unit, capitalism during the industrial evolution spiked the division of labor. In capitalism, a family?s status unfairly decides the wealth fate of their …show more content…
Would capitalism drive us to an inhumane country? Is Capitalism something that is only bad? Could we have avoided Capitalism? Capitalism is a system of economic and social relations market by private property, the exchange of goods and services by free individuals (Williamson). In another words, Capitalism made it possible for us to have something that is close to the concept of the free market, which is full of opportunities and room for economic growth. The elements of capitalism have been around for a long time but it was only to the seventeenth and eighteenth century that the ideas of capitalism actually blossomed in the world of Economy. Prior to capitalism, government institutions ruled the economy and the society. These institutions wrote their policies and ran the economy only with their knowledge of traditions of religions (Newhall). The economy was so much bigger than that. The market adapts to new players and new ways to exchange all the time. Before Capitalism, these institutions were afraid to make changes so that the markets were able to have room for growth. The government stopped people from making economic progress. The government was like the parents who were overly protective; they did now allow the kids to have any room to grow mentally and physically. During industrial revolution, the economy was growing fast and quick, if the government has