Industrial Capitalism Overview
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Questions and Answers

What is the primary characteristic of capitalism?

  • Private ownership of the means of production (correct)
  • Public ownership of the means of production
  • Government control over all means of production
  • Collective ownership of the means of production

    • Which of the following is NOT a fundamental characteristic of capitalism?

  • The use of accumulated capital to expand production
  • Government intervention in the market to regulate prices (correct)
  • The existence of a working class selling their labor
  • The pursuit of profit by companies

    • What is the term used to describe Adam Smith's view on government's role in the economy?

  • Socialism
  • Communism
  • Mercantilism
  • Laissez-faire (correct)

    • How did the growth of industrial capitalism influence Karl Marx's thinking?

    <p>It inspired Marx's ideas about class struggle and exploitation. (A)</p> Signup and view all the answers

    What was the primary reason for the rise of industrial capitalism in the 18th century?

    <p>The accumulation of capital from merchant capitalism. (A)</p> Signup and view all the answers

    What was the primary reason Garibaldi was invited to lead the Sicilian uprising?

    <p>His support for the unification of Italy under Victor Emmanuel. (D)</p> Signup and view all the answers

    Garibaldi's success in conquering Naples can be attributed to several factors. Which of these played a significant role?

    <p>The weakened state of the Neapolitan army and the lack of leadership. (C)</p> Signup and view all the answers

    What event marked the formal establishment of a unified Italy?

    <p>The assumption of the title &quot;King of Italy&quot; by Victor Emmanuel II in 1861. (E)</p> Signup and view all the answers

    How did the Austro-Prussian War (1866) benefit Italy in its pursuit of unification?

    <p>Italy acquired Venetia from Austria under a pre-war agreement with Prussia. (A)</p> Signup and view all the answers

    Which of the following was NOT a key factor in Garibaldi's success in the Sicilian uprising and his advance up the peninsula?

    <p>The alliance with Austria that provided Garibaldi with military assistance. (D)</p> Signup and view all the answers

    What was the main cause of the political and economic instability in the Ottoman Empire from the late 18th to early 20th centuries?

    <p>The Eastern Question (D)</p> Signup and view all the answers

    How did the 'Eastern Question' affect the Balkan region?

    <p>It fueled tensions and conflicts between Balkan national movements and the Ottoman Empire. (C)</p> Signup and view all the answers

    Why was Russia often a supporter of the Balkan national movements?

    <p>Russia wanted to expand its territory in the Balkans. (C)</p> Signup and view all the answers

    What was one of the consequences of the 'Eastern Question' in the Balkans?

    <p>The Balkan Wars, which led to the further fragmentation of the Ottoman Empire. (A)</p> Signup and view all the answers

    What was the primary focus of the 'Eastern Question'?

    <p>The future of the Ottoman Empire in the Balkans. (D)</p> Signup and view all the answers

    Flashcards

    Industrial Capitalism

    An economic system characterized by private ownership and investment in manufacturing.

    Capitalist Class

    The class of people who own the means of production and make profits.

    Laissez-faire

    An economic principle advocating minimal government intervention in markets.

    Adam Smith

    A Scottish economist known as the father of capitalism; wrote 'Wealth of Nations.'

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    Karl Marx

    A philosopher who critiqued capitalism and inspired revolutionary movements.

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    Emancipation Proclamation

    An order issued by Lincoln to free enslaved people in Confederate states.

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    Outcome of the Civil War

    The North's victory ended secession and abolished slavery.

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    Thirteenth Amendment

    Constitutional amendment that abolished slavery in the United States.

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    Fourteenth Amendment

    Constitutional amendment granting citizenship to all persons born or naturalized in the U.S., including former slaves.

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    Eastern Question

    The political and economic instability of the Ottoman Empire and its consequences for Europe.

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    Kingdom of Two Sicilies

    The southern Italian kingdom absorbed during Italy's unification in 1860.

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    Garibaldi

    A key leader in the Italian unification, known for his guerrilla warfare tactics.

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    Victor Emmanuel II

    The first king of unified Italy, crowned in 1861.

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    Guerrilla warfare

    A form of irregular warfare using small groups to fight larger traditional forces.

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    Austro-Prussian War

    The 1866 conflict that facilitated the completion of Italian unification.

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    Study Notes

    Industrial Capitalism's Emergence

    • Industrial capitalism arose in the mid-18th century due to capital accumulation during merchant capitalism, invested in machinery.
    • It developed the factory system and dominated the capitalist mode of production globally.

    Characteristics of Capitalism

    • Private Ownership: The industrial sector, and the broader economy, is primarily owned and operated by individuals or corporations. Decision-making is based on the owners' interests.
    • Antagonistic Classes: A key feature is the division between the capitalist class (owners of production means) and the working class (labourers).
    • Investment in Productivity: Unlike previous systems, capitalism directs accumulated capital to increase production capacity, not unproductive ventures.
    • Profit Motive: Businesses in a capitalist system aim to maximize profit by selling goods and services.
    • Laissez-faire Economics: Capitalist ideology typically supports minimal or no government intervention in markets, believing a free market will regulate supply and demand optimally.

    Adam Smith and Classical Capitalism

    • Adam Smith (1723-1790), a Scottish economist and moral philosopher, articulated classical capitalist ideology in An Inquiry into the Nature and Causes of the Wealth of Nations (1776).
    • He advocated for leaving economic decisions to unregulated market forces. He believed in the benefits of laissez-faire economics for both individuals and society.

    19th-Century Industrial Capitalism and Social Impact

    • The growth of industrial capitalism in the 19th century created a new working class with often poor conditions, inspired by Karl Marx's revolutionary philosophy.

    Italian Unification

    • Italy's unification movement aimed to absorb the Kingdom of Two Sicilies in the south.
    • Giuseppe Garibaldi led Sicilian uprising and recruited volunteers ("Thousand Volunteers") to advance unification.
    • Factors for Garibaldi's success included military skill, popular mobilization (people hoped for freedom and better lives), and the demoralization of the Neapolitan army/government.
    • Victor Emmanuel II became King of Italy in 1861, completing the unification after the addition of Rome and Venetia following the Austro-Prussian and Franco-Prussian Wars.
    • Italian independence was further solidified after Cavour's death.

    American Civil War

    • The American Civil War was a conflict over slavery and states' rights.
    • The defeat of the Confederacy permanently settled the issues of secession and slavery.
    • The North's victory led to the abolition of slavery and related Constitutional Amendments (13th, 14th, 15th).
    • Southern political leaders lost significant power immediately after the war.

    The Eastern Question

    • The Eastern Question concerned the fate of the Ottoman Empire in the Balkans and elsewhere as it weakened.
    • The empire was challenged by nationalist movements in the Balkans, often backed by Russia.
    • The question sparked strategic competition and political maneuvering among European powers.
    • The Balkan Wars (1912-1913) resulted in the Ottoman Empire losing much of its European territory, with newly independent Albania and divided Macedonia resulting. Ethnic cleansing and atrocities occurred.
    • The Balkan Wars fueled tension with Austria-Hungary and Serbia, which ultimately contributed to the outbreak of WWI when the assassination of an Austrian prince by a Serbian nationalist triggered a confrontation.

    Nationalism

    • Italian and German unifications, along with Balkan liberation wars, boosted nationalism.
    • These movements motivated people who shared a common identity to fight for their independence.

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    Description

    Explore the emergence and characteristics of industrial capitalism that arose in the mid-18th century. This quiz covers private ownership, class dynamics, productivity investments, and profit motives that define the capitalist system. Test your knowledge on how these elements shaped modern economies.

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