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Is Greed Good?
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Is greed Good?
Negative of Industrial Revolution
Source Sited
United State Patent and Trademark Office, chart of patent and invention activity in the 19th century, U.S. Patent Activity Calendar Years 1790 to the Present; chart of notable American inventions,2015
J. Ottmann Lith. Co. after Joseph Keppler, political cartoon depicting corruption in the United States Senate, The Bosses of the Senate, Puck, January 23, 1889
Andrew Carnegie, explanation about how to solve problems of wealth inequality in the late 19th century, “Wealth,” North American Review (excerpts), June, 1889
Westchester Daily Telegram, cartoon depicting Andrew Carnegie’s efforts as a philanthropist, March 26, 1913
W. A. Rogers, The Forty T-----, [Thieves]: Baba Jonathon: I don't like your looks, Mr.-Merchant, you had better move on, illustration, Harper's-Weekly, 17 March 1888
Author unknown, an essay offering a counter argument to Andrew Carnegie’s theory about wealth, “Workingman’s Prayer for the Masses” (excerpts),1894
Gap between poor and rich
(Unknown)
Monopoly and trust (Rogers)
Companies charge too much to customers
Unfair treatment toward laborers
->All happened because of excessive greed of entrepreneurs.
Industrial Revolution?
Positives of Industrial revolution
So...the question: Is the greed good?
Industrial Revolution:
The rapid development of industry that occurred in Britain in the late 18th and 19th centuries, brought about by the introduction of machinery.
Greed is good only if they are not excessive.
Economic Growth: USA GNP has gradually increased at high rate
Wealth inequality help economy to flow healthy
(Carnegie)
Technological advance, inventions created
Life quality increase: Better product at lower price
Captain of Industry: Social contribution of Robber Baron
(Telegram)
->All possible by greed of worker and entrepreneurs'
greed to earn money
Most of our lifestyle is affected to industrial revolution:
Technology, transportation, communication etc;
unless...
Conditions that led to Industrial Revolution in America
Patent Activity: Help invention activated (office)
Development of transportation: Help other industries to grow
Again, the question: Is the greed good?
Immigration: Supplied labors to help the revolution
Monopolists dominating senate: Helped laws to be advantageous to businesses (Lith)
Greed is good only if they are not excessive
Without greed, industrial revolution was impossible!