Essay on Modern Society : The Rise Of Capitalism

816 Words Nov 9th, 2015 4 Pages
Modern society prefers allowing individuals to make their own choices as a result of liberalism. Modern society arose from traditional society. Some would go as far as saying that the industrial revolution was the mark at which most societies changed from traditional to modern. It can also be said that the industrial revolution marks the rise of capitalism which plays a big role in modern society. The industrial revolution allowed for a new quick and cheap way of producing goods allowing for a free market economy to take over. This means that the products being sold by vendors had prices set by both competing vendors and customers. The idea of supply and demand. With the rise in modern society and capitalism the need for families to produce their own goods decreased and more products could be purchased from vendors. This allowed for a flow of money to be created and an increase in the country’s economy. A big player in the capitalist movement was Adam Smith. In the reading by Ernest Shusky on page 33 from 25-43 Shusky writes under the section for Adam Smith “Individual self-interest was the basis for economic growth.” This quote shows that Adam smith was a classic liberal at least for his time. Therefor it only makes sense that if modern society embraces capitalism it also embraces classic liberalism. Modern society also revolves around liberalism. More so classical liberalism. The same type which Professor Terry Conlin spoke of in his third lecture where he spoke of…

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