GKE 4
One change that happened due to the First Industrial Revolution was the over populations of major countries. These countries grew between 50-100%. People were leaving their farms to go work at the factories in the city. Also with all the people moving in, things were getting tight. Because of the overcrowding people were having to live in slums. When people went to work in these factories safety didn’t matter, because of these unsafe safety practices people were getting hurt and even losing a limb or they may die because of it. (International, N.D.) (Revolution and the growth of industrial society, 1789-1914, N.D.) (Staff, 2009)
The meaning of capitalism is when the production or the resources are the responsibility of the private owner and the profits belong to the private owner. The rich get richer and the poor get poorer. Laissez-faire capitalism is when businesses are left alone and the government cannot regulate anything a business does, now the businesses rely on supply and demand instead of laws. Factory owners now could set the pay scale, hours, and work environmental conditions that could affect their employees. Business owners had total control and they were happy knowing they had total control. Because the machines were so big and expensive only the rich could afford them, and they could afford to have buildings built big enough to house the machines. Since the profits were good, more people wanted a piece of it. With the new people brought new machines that could produce more and run better With all the factories being built and the new technology, the industrial revolution was booming, this could be seen in Chicago in the mid 1800’s. With the industry booming, the rich were getting richer and the poor were getting poorer. In order to make money the rich continued to invest it. It was not the quality of the product it was the quantity that was important to the business owners. (International, N.D.) (Revolution and the growth of
The meaning of capitalism is when the production or the resources are the responsibility of the private owner and the profits belong to the private owner. The rich get richer and the poor get poorer. Laissez-faire capitalism is when businesses are left alone and the government cannot regulate anything a business does, now the businesses rely on supply and demand instead of laws. Factory owners now could set the pay scale, hours, and work environmental conditions that could affect their employees. Business owners had total control and they were happy knowing they had total control. Because the machines were so big and expensive only the rich could afford them, and they could afford to have buildings built big enough to house the machines. Since the profits were good, more people wanted a piece of it. With the new people brought new machines that could produce more and run better With all the factories being built and the new technology, the industrial revolution was booming, this could be seen in Chicago in the mid 1800’s. With the industry booming, the rich were getting richer and the poor were getting poorer. In order to make money the rich continued to invest it. It was not the quality of the product it was the quantity that was important to the business owners. (International, N.D.) (Revolution and the growth of