Private Owners VS Workers
Perry Ellis and Chayla Santiago
Karl Marx was a philosopher that revolutionized socialism. He believed in economic equality for everyone. Fredrick Engels, another philosopher, helped bring Marxism to life with Karl Marx. Engels also believed that there are socio-economic problems that exist naturally as a part of human life and societies, and such problems must be actively changed to better life.
Problems of Capitalism:
Trade and industry was controlled solely by private owners. Laissez Faire was a popular attitude in the mid-1800s which lead to little to no government regulation. Due to the lack of government regulation, workers were exploiting. They were paid low wages that did not support the cost of living and worked in poor conditions.
Karl Max and Fredrick Engels developed the ideals of Marxism and Socialism in the 1800s. These ideals gave workers justification for their unhappiness with private owners.
Social: Labor unions formed that went on strike against private owners to get what they wanted.
Political: Some private owners and governments began to concede to the demands for higher wages and improved working conditions.
Economic: Wages increased throughout Great Britain and working conditions improved as well.
World: Those ideals of economic equality and fair labor treatment spread and caused new political parties and labor unions to form.
Marxism exist as present day communism while Socialism is often mixed with Capitalism.
Some countries are governed by communist governments. The united states is a democratic nation but consist of a mixed of socialist and communist ideals when it comes to economics.
Workers, in most countries, have the right to a safe work place and a wage that can support the cost of living in that nation in the united states, the minimum wage is climbing towards ten dollars an hour. Laissez Faire no longer exists.