“Adam Smith argued that Individuals who were allowed to pursue rationally their own economic self-interest would benefit society as well as themselves” (Sherman & Salisbury, 2008, p.187). This argument helped industrial capitalism grow in the 19th and 20th centuries. Industrial capitalism affected the bourgeoisie and the working class. Although the bourgeoisie gained money and power, the working class suffered through poor working conditions.
The bourgeoisie, also known as the middle class, gained money and power as the industrial capitalism got stronger. They consisted of merchants, tradesmen, and professionals. In the middle class, the men worked outside the home to support their families, while the women stayed at home to take care of the house and children. Unfortunately, the lower class was unable to do the same. All the members of the family had to work to support each other. Dennis Sherman and Joyce Salisbury ( 2008) state in the textbook “The West In The World”, that the people of the working class had to work six days a week, twelve to sixteen hours a day, earning only a small amount of money ( p.277).
The bourgeoisie and the lower class regarded their children differently. The middle class treasured their children and gave them an education; therefore, they had the chance to become successful in their life. On the other hand, the working class cared for their children, but they also needed them to work as well. In the workplace, children were mistreated. For example, if the children did not perform well they were chained to the machines and whipped. “One governmental investigation of child labor described how children were rendered pale, weak and unhealthy from laboring for hours like little slaves” (...
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...ame middle class. These workers could enjoy the benefit of the bourgeoisie by providing their children with an education. In addition, wives could stay home and raise their children. I believe that having socialism as part of an economy is important. It helped to establish the minimum wage in the United States. Futhermore, it assisted in creating a better healthcare system. Therefore, a mixed economy of capitalism and socialism is great for our country.
Works Cited
Kilkenny, N. (2007). Reformation.org-it’s about time! Rome, Rockefeller, the U.S., and Standard Oil. Retrieved from http://www.reformation.org/rockefeller.html
PBS Home Programs. (n.d.). The rockefellers. Retrieved March 23, 2011 from http://www.pbs.org/wgbh/amex/rockefellers/sfeature/sf_8.html
Sherman, D., & Salisbury, J. (2008). The west in the world. The McGraw-Hill Companies, Inc.
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