Psychological/Cultural Justifications For Industrialization
Reference to Hamilton and 1st industrial revolution (with Whitney)
1st sentence in Amsco 17: America, by 1900, outproduces England, Germany, and France combined.
20th century: American Century
World-straddling colossus (vocab)
Thank you Hamilton/TR
Interrelated; feed on each other: Maelstrom (vocab)
Not unique; USSR/Russia, Africa, China: Not effectively utilized
Capitalism v. Planned economy resource allocation
Robert Wright’s Nonzero
Jared Diamond’s Collapse
Long term consequences (JD: long term private interest)
Problem w/capitalism: Short term = pollution
(But worse under planned economy i.e. ALL Eastern Europe)
American mixed economy balances extraction w/conservation
Have we gone too far? Red-Cockaded woodpecker, gopher tortoise, Caribou in ANWR?
Acres in forest: Actually increasing (environmental doomsayers (vocab))
Economic dislocation, mechanization of agriculture, repressive regimes, pogroms
Railroad v. canal
Cheapness of transportation
Allows e. of s.
Transportation + People
New Business techniques
Economies of scale
NOT laissez faire: Ideology not reality
Intervention on behalf of capital
T.R. first to give labor “Square Deal”
U.S. Patent system
Gordon Gecko: Greed is good
Innovation drives productivity
Risk = Reward
Risky (small business failure rate)
Would jobs exist if Rich not allowed to run business as they see fit?
Ronald Reagan: A rising tide lifts all boats
Poor in America vs. rest of the world
Vast material wealth
Jesus loves money?
Link to slavery justifications
Russell Conwell: Acres of Diamonds
(Later response: Rauschenbush)
Helping poor is against God’s plan.
Poor are poor by God’s Will. Punishment for laziness, test for faith (Job)
Explicitly exempts society; concerned about implications
Blends w/racism in South
Recently: Bell Curve book (Richard Hernstein and Charles Murray)
Diamond’s Guns, Germs, Steel