As Industry grew and populations grew from primarily rural to urban society began to change and new ways of thinking about the economy emerged. Next, we will examine the new ideas and the thinkers who struggled with how to understand the consequences of the industrial world. Laissez–faire economics as presented by the writer Adam Smith supported free market capitalism while Karl Marx advanced the theories of socialism and communism. Links to the Powerpoint & work are found in the links below. The Crash Course World History video is a helpful summary.
Jeremy Bentham proposed utilitarianism the idea that the goal of society should be “the greatest happiness for the greatest number of citizens.” After he died his body was stuffed and it is still on display at University College London. I met Jeremy in 2002.
Lastly, you will complete a crossword puzzle and read about the Crystal Palace Exposition that was held in London at the height of the Industrial Revolution.