Capitalism and Industrial Revolution Essay

Capitalism and Industrial Revolution Essay Capitalism and Industrial Revolution Essay THE STRUCTURE AND CULTURE OF THE AMERICAN WORKPLACE SINCE INDUSTRIAL REVOLUTION Sara Link Thomas Edison The structure and culture of the American workplace since Industrial revolution Introduction Before the industrial revolution, people were agricultural based in farms that were spread out in America. The mode of production was traditional and the output was dismal. Since the start of the Industrial revolution to date, the structural and cultural workplace in America has been impacted by may forces including rise of capitalism, use of technology, emergence of globalization and gender equality issues. Industrial revolution brought together people from different ways of life through the creation of machines, cities and factories. Time became of importance as work days were no longer determined by the sun. This was because the clock was used at the work place. Entertainment industry grew tremendously as people were seeking something to do when off clock. Congestion developed in the cities because there were no regulations and every family member had to work. Unlike in the agricultural age where families worked together, industrial revolution made it difficult for family members to work together. As a result, family life became very difficult. This paper discusses how the structure and culture of the workplace of American workplace have been affected by the forces of succeeding industrial revolution including capitalism, technology, globalization and issues of equality. Capitalism The term capitalism was coined in 19th Century when industrial revolution was at its peak and individual businessmen were come up with new enterprises and as they accumulated wealth. Capitalism is an economic system in which trade, business, means of production and distribution are controlled by the private owners or corporations, compared to the state-owned means of production. Capitalism has been in existence in the western world since the age of Mercantilism. Mercantilism was an economic system that was supposed to increase the country’s The structure and culture of the American workplace since Industrial revolution 3 wealth through imposing government regulations on commercial interests related to the country’s economy. It was believed that limiting the imports on tariffs and maximizing exports, the nation’s economy would be improved. Compared to the other economic systems, capitalism emphasizes on production at the expense of consumption to increase the productive capacity instead of investing it on economic enterprises that are unproductive for example, palaces and cathedral. It is recognized as the new emerging global economy. Capitalism is illustrated by the flow of goods, services, capital and labor through comparative advantage by use of new technologies that disrupt the traditional ways of conducting business. United States have built a niche for itself in the global economy using modern technology to create high quality goods and services that are value added as well as to have the most informa tion based economy. Remaining at the top is not easy and therefore industries in the United States have to adopt the principal of constant change through the process of â€Å"creative destruction.† This entails replacing ineffective products and the entire industry on a continuous basis. Today, capitalism exists in all countries of the world as a social system where production and distribution means are owned by a minority of people known as the capitalist class. Most people have to exchange their skills to work in return for a salary. This class of people is paid for producing of goods and services which are sold for profit. The capitalists make their livelihood from the profits the working class makes for them. Technology Technology is the study, development, modification, and usage of devices, machines, crafts, systems and techniques so as to find solutions to problems while improving a preexisting problem solution to achieve a