Industrial capitalism

Custom Student Mr. Teacher ENG 1001-04 26 September 2016

Industrial capitalism

Capitalism’s slogan reads “expand or die”, which is absolutely divergent from the notion of a human-centered, sustainable socialism. The implications arising from both irrational and rational events become apparent faster under capitalism. The continuous and irrational production associated with industrial capitalism threatens the foundation for sustainable ecological equilibrium that is vital for human survival. Industrialist production is characterized by mass creation of and persistent succession of products, thus contaminating the environment, and precipitating exploitation and wars.

19th century industrial capitalism greatly impacted on European civilization. It did away with the aristocracy and elevated the rich to political and economic power. Majority of the peasants were drafted into factories thus shifting prevailing outlook towards prosperity. Capitalist riches appeared to be not naturally limited since new production modes were unknown in the previous organizational structures and also because the entrepreneurs regarded themselves as wealth creators. The entrepreneurs also generated various movements demanding a democratic administration.

A democratic system was essential to grab power from the previous nobility, enact legislations to promote business growth and to protect property sovereignty. Freedom could only be attained after ensuring security and financial autonomy. Greed was usually endorsed as the backbone of the economy and offered work plus prosperity to everyone. Dependency was deemed as being self-destructive and thus the impoverished were castigated through harsh legislations meant to compel them to toil (http://www. wsu.

edu/~brians/hum_303/socialism. html). The early 19th century witnesses intense suffering, arising from exploitation, for workers in Germany and England which were just adopting industrialization. Previous feudal limitations which had assigned peasants to dwell on the land and also restricted their revenue also promised them a standing in society. Although not prosperous, the peasants could handle homelessness and starvation by virtue of being born in localities from where they couldn’t be moved contrary to their will.

Disruptions of this arrangement dictated that laborers were liable to being freely hired and dismissed and exchange their labor for whatever compensation was offered. The levels of wages were dependent on the competition among workers to labor as cheaply as possible in order to gain work market advantage. Conventional protections and regulations in emerging factories were extremely strict, and they ran for whole days on end with shifts of twelve hors each. Working conditions were very inhumane.

Children and women also joined the labor force and they were highly favored owing to the fact that they were cheaper compared to men. Numerous areas experienced declining learning levels and livelihood standards. Many industries contaminated ecosystems, their machines killed and maimed numerous laborers and emerging industry towns had unsatisfactory foodstuffs which usually were inadequate. The middle classes were not spared either. Previous economies were well regulated and quite predictable with the exception of conventional plague, drought or war-generated crisis.

The novel arrangement ushered in a unique type of crisis which apparently had no rational of natural basis. Business cycles were beyond the control of everyone. The era was characterized by a somewhat extended phase of financial growth, offering numerous jobs and increasing salaries throughout which majority prospered; however, for no obvious cause, wages and profits could start declining thus plunging millions into poverty and unemployment. The rich also would suddenly be a great deal less well-off, or even completely impoverished (http://www.

wsu. edu/~brians/hum_303/socialism. html). Entrepreneurs attempted to stem these untamed cycles by enacting regulations dictating maximum remuneration levels and forbidding labor unifications; controlling imports and merging big domination trusts in order to eliminate or reduce competition. Despite the fact that competition is critical to capitalism, individual entrepreneurs are not benefited if it is not restrained at all. Absorption or destruction of competitors and the capacity to determine prices and wages signals competitive success.

Attempts at accumulating and stabilizing wealth became increasingly successful over time, though they have never succeeded in avoiding occasional crashes. Numerous persons started to propose that such an unbalanced system that credited the gluttonous and at the same time impoverishing common people required radical changes. The notion that rich people merit their riches, on the premise that they generated it, was rejected. It was argued that riches are derived by the workers and erroneously assumed by rich people who obtain disproportionate benefits out of their poorly-remunerated labor.

20th century Labor groupings in Europe rarely implemented many of their humble objectives including nationalizing mines, railroads plus several other industries. The close of the 19th and dawn of the 29th centuries saw great success for labor unifications. Such unions undertook campaigns aimed at shortening work days, increasing wages, and enhancing the work environment despite the numerous challenges they faces including receiving beatings, being shot or imprisoned. Managers of many industries attempted to horizontally incorporate their industries with a view of maximizing profitability and control.

For instance, the management at US Steel highly valued the idea of accumulating all aspects; be they unrefined materials, transportation or processing plants into a obviously defined commercial hierarchy. This was detrimental to employees working at diverse subsidiary firms. Unions were demolished; worker independence done away with and skills diluted such that every worker held a semi-trained machine operator position thus could readily be trained and substituted. Industrial employees were simple and pure and thus technology made their replacement easy. The cycles of salary slavery were identical everywhere.

Private enterprise economic structures require continuous financial progress and thus they ultimately will exhaust earth’s limited resources. Industrialist production places environmental consequences to everyone in society. It cannot sufficiently alleviate it effects on ecosystems and the entire earth. Mental health institutions are filled with victims of capitalism. The circumstances generated by 19th century industrial free enterprise that made workers demand control over own destinies, by way of political groups or trade unifications, have not been attained.

In particular nations, capitalism can only be attained if other countries are underdeveloped. Sustainability of capitalism in developed lands is explicitly dependent upon abuse of the deprived in underdeveloped lands. Capitalism inherently harbors inefficient and unfair power and wealth distribution; an inclination to market oligopoly and monopoly; imperialism plus different modes of cultural and economic exploitation; social isolation; economic volatility and inequality. Upon adoption of capitalism and laissez-faire, an inclination in the direction of oligopolistic arrangements develops.

The provision of autonomy for all persons to assume effective decision-making management over useful resources is essential to economic liberty. Capitalism promotes the accumulation of employment, power and capital, thus almost obliterating economic liberty. Monetary depression and financial disasters existent in capitalist economies are caused by extreme wealth and income differentials (http://www. wsu. edu/~brians/hum_303/socialism. html).. Employment of state military might to protect foreign industrialist interests is a foreseeable consequence of monopoly free enterprise.

This situation is responsible for financial exploitation; colonialist, counterrevolutionary and imperialist battles; suppression of trade unionist leaders and workers; massacre and genocides. Capitalism also promoted utilization of labor strength from indentured workers, political convicts, criminal prisoners, slaves and extra coerced individuals. References Introduction to 19th century socialism. Retrieved on 11th April 2009 from http://www. wsu. edu/~brians/hum_303/socialism. html


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  • University/College: University of California

  • Type of paper: Thesis/Dissertation Chapter

  • Date: 26 September 2016

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