World History

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Socialism

Socialists believe that the wealth of a country should be shared equally.

In 50 years, the English manufacturing city of Liverpool grew from 80,000 to 375,000 people. Cities could not cope with the huge influx of workers coming to work in the factories of the Industrial Revolution. A dozen people might be crowded together in one small room in a run-down apartment building called a tenement. Due to a lack of sewage facilities, filth was everywhere, and infectious disease killed one child infour before the age of five. The Industrial Revolution was making a few people very wealthy, but countless others were poor and living under miserable conditions.

Liverpool = a city in northwestern England; one of the greatest ports and largest cities in Britain, and the country's major outlet for industrial exports.

tenement = a type of apartment building common in big cities starting in the mid-1800s. They were often poorly built and overcrowded. Many were created by dividing up floors and even rooms of large houses. As a result, not all units had water or toilets. Even in new tenements, these facilities were usually in a hallway shared by many families.

Not surprisingly, many working-class people were attracted to the ideas of socialism, an economic philosophy that called for a more even distribution of wealth. Socialism proclaimed, “From each according to his ability, to each according to his need.” Under socialism, major businesses would be owned by the public, not by a few wealthy men. Socialism was basically the opposite of Adam Smith’s capitalism.

socialism = an economic system in which factories, farms, and mines are owned by the government, rather than by individuals. Prices and wages are typically controlled by the government, which also makes decisions about what should be produced.