ENGL 100 Chapter Notes - Chapter 1: Gas Lighting, Classical Liberalism, Invisible Hand
Document Summary
Response against classical liberalism embodied in industrial revolution where society lost its way. The embracing of laissez-faire capitalism and free market principles by much of. Europe gave people for the first time on a wide scale the opportunity to freely engage in economic wealth. Capitalism dictates that beyond the freedom to innovate and become an. This competitive spirit was the lifeblood of a massive leap forward" during the entrepreneur, it is up to individuals to compete in the marketplace. Freedom and competition spurred a wave of new inventions the factory system enabled mass production thousands of new products and services, lower prices, wider availability. Industrialization also created new, skilled jobs, as well as spin-off industries and trades. Globalizing trade let to rapid economic growth in europe and the rest of the world. Cities were modernized introduction of things like electricity, home heating, gas lighting, rail transport, etc. Innovations in science and medicine extended life expectancy.
