work

1st assignment

Instructions:

Read the section on Negative Effects of the Industrial Revolution below. Watch the two videos below and answer the questions.

Videos:

Capitalism, Socialism and Communism Explained in One Minute Video

https://www.youtube.com/watch?v=JpVv49v8BLQ

Communism vs. Socialism: What's The Difference? Video

https://www.youtube.com/watch?v=FrtDZ-LOXFw

Questions:

Watch the two videos below and answer the questions.

1.       Who developed each economic system?

2.       How does each economic system work?

3.       What are the positive sides to each economic theory?

4.       Are there any negatives? If so, what are they?

5.    Describe economic system we have in the United States?

Readings

Negative Effects of the Industrial Revolution:

The growth of large-scale industry had many positive results. However, serious problems or negative effects also arose in the late 1800s and early 1900s. Some of the negative effects of the industrial revolution are listed below.

• Work hours were long - 10 to 12 hour work days were common, often with work on Saturdays. Workers could take breaks for meals, but such long work days were exhausting.

• Pay was low - $1.00 or $1.50 a day was common for men - it was less for women and much less for children. It was enough to support a single man or woman at that time, but not a family. (That pay rate would be roughly equal, in what it could buy, to between $25 and $35 a day in today's money.)

• Unsafe working conditions existed in many factories and mines, and few laws or safety regulations existed at that time to protect workers.

• Child labor was common in many industries. Factory owners hired children because they would work for lower wages than adults.

An underlying social belief in unregulated capitalistic market forces prevented many governments from addressing social issues. As a result, the economic theories of socialism and communism emerged.