Industrial Revolution

8 Pages 1964 Words

work and better living conditions and money in the big cities, the economic laws of supply and demand can take effect on labour.
Comprehensive enterprises - factories became part of the landscape and communities are built to house the workers of the factories.
The Entrepreneur - these were people with a vision of profit. They were the factory owners whom without, Britain wouldn’t have even gone through her revolution.

Capitalist development can be defined as the process of instilling a post-mercantilistic culture on society’s entrepreneurs.
“The accumulation of the means of production (materials, land and tools) as property into a few hands; this accumulated property is called “capital” and the property-owners of these means of production are called “capitalists”.”
Hooker as you can see defines capitalist development as acquiring, developing then selling goods. Labour is paid for through money, not product. A money standard is introduced, barter is no longer a way of payment. We also have the division of labour, it is specialised so it becomes cheaper, and the overall value of the worker becomes less.
Along with these two underlying principles of capitalist development (Labour paid with money not product and specialisation in labour) we also have the ‘Enlightenment’ definition of capitalist development, which essentially is about individualism. “…that individuals should be free to pursue their own interests, and that, in a democratic sense, individuals pursuing their own interests will guarantee the interests of society as a whole.”
Marx on the other hand has said that the fundamental purpose and meaning of human life is productive labour. This definition is in line with his writings on this topic.
Another under...