DSOC 1101 Lecture Notes - Lecture 6: Industrial Revolution
12 Jun 2016
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When the world connected to the new world infancy of globalization capital became important. 1509-1547 henry the 8th: wages doubled, england was getting richer distributed to economic allies. Smith supports the middle class: established the church of england. 1564-1666 william shakespeare says that smith"s argument of the benefit of self- interest & greed can be bad if taken too far. 1642-1651 english civil war: the wealthy sees that the middle class was getting richer and got angry, people start fighting over money. 1724-1790 adam smith: named capital, predicted heightened capitalism, wrote wealth of nations. 1736-1819 james watt: inventor of the steam engine industrial revolution, england becomes strongest industrial nation in the world, proves smith right. Capital: capital capitalism, investors use capital to buy off politics. Politics: politicians make decisions to seek wealth especially in europe. He didn"t respond to criticisms, instead he brushed over his criticisms: didn"t respond to slavery. Science is supposed to be slow and self-critical.
