In the late nineteenth century, after applying technological innovations and advancements brought by the Second Industrial Revolutions, businesses also transformed their operations and marketing. Industrial Capitalism, an economic system based on a free market in which all enterprises are privately owned, fully replaced eighteenth-century economic views about merchant capitalism.
Imagine youre a business owner and you are implementing plans to adapt to new opportunities provided by Industrial Capitalism.
To complete your discussion assignment, please do the following:
Write two short paragraphs explaining what you plan to do and why. Be sure you answer the following:
Identify the largest changes to business practices that happened during this time, and choose one that you would do as a business owner?
How did these new business practices respond to boom-and-bust changes in the economy?
How did these practices encourage economic inequalities and dangerous working and living conditions? How did they lay the groundwork for the birth of unions?
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