Industrial Production and Capitalism Drivers of Social Change in History
Industrial Production and Capitalism: Drivers of social change in history
Ho Xin Qian Louise
In this essay, I will illustrate why industrial production and capitalism were major causes of social change in history by stating three main arguments. Firstly, I put forth the case that industrial production and capitalism have changed the role and nature of markets in history. In doing this, I trace how the market has become the central system of social coordination via market instruments, encompassing even the elements of industry like land, labor and money. In exemplification, I explain how industrial capitalism has brought about the rise of mass production and mass markets, enabling the market system to expand its influence. Secondly, I will illustrate how industrial capitalism has changed the social relations of production, as well as the social organization of work, resulting in class struggle and socio-economic stratification in history. Lastly, I touch on the changes in norms and culture within institutions due to industrial production and capitalism. For the purpose of this paper, I define industrial production as production brought about by mechanized technology and industrious labor in centralized locations. Capitalism is defined as a system of profit making commerce made possible by the usage of money, decentralized circulation of capital and the market exchange of commodities. I use the term industrial capitalism to denote the amalgamation of both forces.
The Role and Nature of Markets in History It is my contention that industrial production has changed the role and nature of markets in history, placing it in the centre of society and economy. It is true that industrial capitalism presupposes the existence of a market system. However, the market system was never the dominant system of social control until the development of isolated markets by mercantilist means, and subsequently the transnational interaction and proliferation of markets into a
Ho Xin Qian Louise
In this essay, I will illustrate why industrial production and capitalism were major causes of social change in history by stating three main arguments. Firstly, I put forth the case that industrial production and capitalism have changed the role and nature of markets in history. In doing this, I trace how the market has become the central system of social coordination via market instruments, encompassing even the elements of industry like land, labor and money. In exemplification, I explain how industrial capitalism has brought about the rise of mass production and mass markets, enabling the market system to expand its influence. Secondly, I will illustrate how industrial capitalism has changed the social relations of production, as well as the social organization of work, resulting in class struggle and socio-economic stratification in history. Lastly, I touch on the changes in norms and culture within institutions due to industrial production and capitalism. For the purpose of this paper, I define industrial production as production brought about by mechanized technology and industrious labor in centralized locations. Capitalism is defined as a system of profit making commerce made possible by the usage of money, decentralized circulation of capital and the market exchange of commodities. I use the term industrial capitalism to denote the amalgamation of both forces.
The Role and Nature of Markets in History It is my contention that industrial production has changed the role and nature of markets in history, placing it in the centre of society and economy. It is true that industrial capitalism presupposes the existence of a market system. However, the market system was never the dominant system of social control until the development of isolated markets by mercantilist means, and subsequently the transnational interaction and proliferation of markets into a