01:506:101 Lecture 11: Ch11
13 Mar 2018
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Document Summary
Two revolutions took place between 1785 and 1815. The first was political, in europe: organization of government, taxation, individual rights, and class power. The other was economic, almost entirely in england: techniques of manufacture, formation of capital, and distribution of products. After 1815, the effect of each revolution deeply affected life in all of europe. Conservatism and reaction had won out on the continent, but industrialization was to enlarge the business and wage-earning classes and make it harder for monarchs and aristocrats to monopolize public power. Industrialism grew up within capitalism, with control of capital through private ownership, and most capital owned/controlled by the few. In west europe, property was considered the basis of personal independence and political liberty; commercial capital came from trade and agricultural production of previous generations. In the rest of the world, productive capital was owned by the public and controlled by the state.
