New ways of thinking

1. New ways of thinking Made by Aqsa

2. Interference of Government • The physiocrats claimed that we should be given the permission to operate natural law without the interference of the government. • Smith declared that the free market would produce goods at less prizes, so that everyone could afford. • In 1800s the middle class leaders embraced the laissez Faire approach.

3. Increasing of population • Thomas Malthus said that the increasing population could cause in decrease for the food supply. • Natural methods like, diseases, wars and famine could reduce the population. • Malthus encouraged the people to have few children and discourage charitable handouts and vaccination.

4. Changing lifestyle • By 1800s many people accepted Malthus Bleak view about changing there lifestyles. • Unfortunately his views got wrong, and the population and food supply increased. • But somehow after some years the western world started improving. • People began to have few children

5. Ricardo’s views • David Ricardo decided to go for the economic studies after reading Smith’s The wealth of nations. • Ricardo didn’t hoped for the working class to escape poverty. • In the law of wages, Ricardo mentioned about the increase in wages because he said that it may cover the cost of necessities.

6. Utilitarianism • Jeremy Bentham supported the idea that the goal of society should be the greatest happiness for the greatest number of citizens. • According to Bentham people should have individual freedom • Beside this, he said that the government should be involved in certain issues.

7. View of John Stuart Mill • Like Bentham, Mill was also in favor of individual freedom but still he said that the government should be improved for the lives of working class. • He further voted for the women and workers. • Most of the middle class people rejected his views.

8. Industrial Age • Robert Owen who was a Utopian, didn’t fulfilled his duty in running industrial age. • He believed that there would be a way to make the society better. • To fulfill his point he built a cotton mill in Lanark, Scotland. • He reduced the working hours, made schools for the children and opened a big store for the workers from where they could get food and clothes. • From 1815 till 1825 more than 20,000 people visited Lanark for the study of Owens reforms.

9. Socialism • Some other thinkers focused and disapproved the immoral industrial capitalism. • They said that this capitalism has created a difference between the rich and poor. • According to them socialism was the solution to last poverty and injustice. • This socialism helped to develop faith and human nature.

10. The communist Manifesto • Karl Marx disapproved the ideas of Utopians. • His new theory was about the scientific socialism, which was based upon the scientific study of history. • Marx and Engel worked together and wrote about the pamphlet” The communist Manifesto” which was published in 1848. • In The communist Manifesto Marx argued over the history of class struggle among the “haves and the have-nots” whereas the haves were the bourgeoisie and have-nots were the working class.

11. Social Democracy • By looking over the Marx ideas another German socialist came up with an idea of social democracy where there would be gradual transition from capitalism to socialism. • After some years, due to lack of success Marxist government would illustrate the blemish Marx’s argument. • After the end of 20th century, most of the economy included the elements of free- market capitalism.