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Industrial Revolution
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The Wealth of Nations by Adam Smith Published
“The Wealth of Nations” by Scottish economist Adam Smith is published. The book touches on subjects such as the division of labor, productivity and free markets and sets the foundation for capitalism. (Capitalism vs. Socialism) -
Robert Owen
Utopian Socialism at New Lanark
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Conservatism
Is a political and social philosophy that promotes retaining traditional social institutions. A person who follows the philosophies of conservatism is referred to as a traditionalist or conservative. Edmund Burke. (Capitalism vs. Socialism) -
The Erie Canal
While the factory system was evolving in the Northeast, the entire country experienced a market revolution that tied the expanding nation together with roads, canals, and railroads, and created modern capitalism. (The Rise of Capitalism, 2000) -
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Chartism
A working class movement for political reform in Britain between 1838 and 1848. It takes its name from the People’s Charter of 1838. The term “Chartism” is the umbrella name for numerous loosely-coordinated local groups, often named “Working Men’s Association,” articulating grievances in many cities from 1837. Its peak activity came in 1839, 1842 and 1848. (Capitalism vs. Socialism) -
The Communist Manifesto
1848 publication written by the political theorists Karl Marx and Friedrich Engels. It has since been recognized as one of the world’s most influential political manuscripts. Commissioned by the Communist League, it laid out the League’s purposes and program. It presents an analytical approach to the class struggle (historical and present) and the problems of capitalism, rather than a prediction of communism’s potential future forms.(Capitalism vs. Socialism) -
Das Kapital Part 1
Karl Marx's books "Das Kapital (Volume 1) " was published and worked with Marx's other book, " The Communist Manifesto" in proposing the concepts of History, Labor Theory of Value, the Role of Institution, and the Dictatorship of the Proletariat (Das Kapital is a three volume book) (Capitalism, Socialism, Communism) -
Das Kapital Part 2
Karl Marx's book "Das Kapital (Volume 2)" was published with the help of Friedrich Engels who edited and published them after Marx Died. (Capitalism, Socialism, Communism) -
Sherman Antitrust Act
The Sherman Anti-trust act was an important law that began to limit the capitalist system in the United States. It major role was to stop Monopolies that reduce competition in the Market. (Capitalism, Socialism, Communism) -
Das Kapital Part 3
Karl Marx's book "Das Kapital (Volume 3)" was published with the help of Friedrich Engels who edited and published them after Marx Died.(Capitalism, Socialism, Communism) -
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Progressivism/Welfare Capitalism
The Progressive Movement began in the late 19th and early 20th centuries in cities with settlement workers and reformers who were interested in helping those facing harsh conditions at home and at work. The reformers spoke out about the need for laws regulating tenement housing and child labor. They also called for better working conditions for women. Theodore Roosevelt. (Capitalism vs. Socialism) -
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Socialist Party of America
In 1901 the Socialist Party of America was started to institute socialistic ideas. But it was then disbanded by 2008.
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Anti-Trust Act
A landmark federal statute on competition law passed by Congress in 1890. It prohibits certain business activities that reduce competition in the marketplace, and requires the United States federal government to investigate and pursue trusts, companies, and organizations suspected of being in violation. It was the first Federal statute to limit cartels and monopolies. (Capitalism vs. Socialism) -
The Bolshevik Revolution
The Bolshevik Revolution (or Russian Revolution) led by Vladimir Lenin, which ended the Monarchy of Tzar Nicholas II of Russia and created the Soviet Union. The Soviet Union was the first time in which Karl Marx's ideas were instituted. (Capitalism, Socialism, Communism) -
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World War I
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The Lowell Experiment
The most promising experiment in rural industry was a model town that had been built from scratch in the 1820s, on a beautiful spot at the falls of the Merrimack River, north of Boston. It was named after another industrial spy, Francis Cabot Lowell. Lowell, a Boston merchant, had gone on a tour of British textile mills, memorized their technological secrets, and on his return to America, began building a textile empire. Lowell became its queen city. (The Rise of Capitalism, 2000) -
Lenin's Death
By 1924 Lenin Died and the Soviet Union had become an established one-party Communist country in control of the country's economic, social and political affairs.
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Great Depression
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New Deal
Series of economic programs enacted by President Franklin D. Roosevelt in response to the Great Depression. The New Deal focused on the three (3) R’s: Relief (for the unemployed and poor), Recovery (of the economy to normal levels) and Reform (of financial system to prevent a repeat depression). (Capitalism vs. Socialism) -
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World War II
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Communization of Eastern Europe
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Post War Consensus
Almost all capitalist/democratic nations throughout the world, that were 1st world nations, followed a welfare capitalist style of economics that was based on Keynes economic theories. (Capitalism vs. Socialism) -
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Cold War
(Dr. Quintard Taylor) -
Illinois and Michigan Canal opens
Ogden, a New York state legislator, was sent to Chicago by New York capitalists who had bought land there on speculation. He hated the place at first, but saw its potential and set himself up as a conduit for New York money that began streaming into Chicago. Ogden and his business associates then set about building a town and connecting it to the rest of the country. (The Rise of Capitalism, 2000) -
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Korea
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China
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Cuba
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Samuel Slater and the Factory System
The American Industrial Revolution began with an act of economic espionage. In 1789, an English mechanic named Samuel Slater left his country for America, disguised as a farmer. In his head were the closely guarded secrets of British textile manufacturing. The following year, Slater built a mill from memory at Pawtucket, Rhode Island with the backing of two local capitalists. (The Rise of Capitalism, 2000) -
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Thatcher
Thatcherism claims to promote low inflation, the small state and free markets through tight control of the money supply, privatization and constraints on the labor movement. It is often compared with Reaganomics in the United States. (Capitalism vs. Socialism) -
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Reagan
These policies are commonly associated with supply-side economics, or pejoratively as trickle-down economics. The four pillars of Reagan’s economic policy were to reduce the growth of government spending, reduce income tax and capital gains tax, reduce government regulation of economy, and control money supply to reduce inflation. (Capitalism vs. Socialism) -
Mikhail Gorbachev Elected
Gorbachev is elected to be the General Secretary of the Soviet union and began to reform Russia with his Glasnost & Perestroika policies. This is Russia's first steps away from their Communistic style and into a free market.
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NAFTA
By 1994 Canada, Mexico, and the U.S. signed an agreement to open the borders to free trade which will help the Capitalist Government in the U.S. and promote entrepreneurship.
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Socialism in Venezuela
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Obamacare ( Patient Protection and Affordable Care Act )
On March of 2010 President Obama Signed in Obamacare which has traces of socialistic idealism found in Socialist Nations. (Capitalism, Socialism, Communism)