History & Civics
With reference to the picture given, answer the following questions:
(a) Identify the person in the picture. Name his long time associate and co-author. Name one famous publication of this person and his associate.
(b) What were the causes for the rise of the economic system propounded by these two individuals?
(c) Briefly describe the type of society they envisioned.
Industrial Revolution
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Answer
(a) The person in the given picture is Karl Marx. Frederick Engels was his longtime associate and co-author. One of their famous publications was 'Das Kapital'.
(b) The causes for the rise of the socialist economic system are:
- Rise in evils of capitalism — The capitalist economy was exploiting the worker class due to which there was resentment in them.
- Trade union movements — These movements aimed at recognition of the rights of workers. The vast difference between rich and poor was brought into sharp focus.
- The Chartist Movement — It was started to achieve social and political equality.
(c) They had envisioned a society without exploitation. In a socialist society, private property in the means of production would be headed by co-operative ownership. A socialist economy would not base production on the creation of private profits, but would instead base production and economic activity on the criteria of satisfying human needs. Karl Marx had envisioned a classless and stateless system.
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Related Questions
With reference to the rise of Capitalism, answer the following questions:
(a) What were the causes for the rise of Capitalism?
(b) What was the impact of Capitalism on the working class?
(c) How did it give rise to Socialism?
With reference to Capitalism and Socialism, state the following:
(a) Difference between Capitalism and Socialism in terms of control over means of production and profit.
(b) Two key proponents of Capitalism and Socialism. Give examples of two countries where each economic system is prevalent.
(c) What according to you is better of the two economic systems? Give reasons to support your answer.
Do you think that the Industrial revolution was an offshoot of the Renaissance? Give reasons to support your answer.
Imagine that you are transported in a Time Machine in the era when Industrial Revolution began in England. Write down the problems faced by the workers who were used to making products by hand.