Zachary Hewlett
The Industrial Revolution changed the main money-making resource; when it used to own land, it now became owning a factory or having a high status in a certain industry. These new money-makers were adventurous and enjoyed finding new things to invest it, much like the high-class people do today. Sometimes payments were difficult to make, and employers found different ways to do it; paying the whole amount one day, or paying a little bit a day which eventually added up to their weekly wages. All these payments also caused the creation of early banks in the 1700s, which solved all payment problems.
Aisha Kazi The growth of wealth took place from the Industrial Revolution. Investors started to invest in factories and machineries. People wanted to start investing in new and different things. Payment was a common problem for the employers. They had problems dealing with the wages. Another problem was lack of banking systems in industrial centers. Eventually they set up to distribute capital to areas where it was needed, to areas where there was a surplus. Question: Was investment only for high class people? I think this supports and links to morality and economics are often in conflict, because problems dealing with wages affect the economy and only high class people to invest money in factories show morality.
Minh Ngo
Before England entered the Industrial Revolution, land was the largest source of wealth. Much of the powers and land were held by the landed aristocracy. As the Industrial Revolution entered, the largest source of wealth shifted to investments in new ventures. These investors were risk-takers, it was normal for powerful investors to invest in business that they have none or little knowledge about. There was many problems with paying the laborers' wages. Employers stretched their thinking as far as they could to pay their employees. Some paid their workers on a daily basis, others weekly or monthly. This problem did not stand alone, it was caused by another problem, the lack of good, reliable banking systems in England. For example, the Bank of England was interested in trading and other financial affairs of the nation than the manufactureres. In the 1700s, private banks sprung up from the ground to lessen this problem, but they collapseas the Bank of England tighten credit. Since they were small and had limited resources, they failed to meet the demands of their customer.
How did the Industrial Revolution change the main source of wealth fromland to investments? Why?
Zachary Hewlett
The Industrial Revolution changed the main money-making resource; when it used to own land, it now became owning a factory or having a high status in a certain industry. These new money-makers were adventurous and enjoyed finding new things to invest it, much like the high-class people do today. Sometimes payments were difficult to make, and employers found different ways to do it; paying the whole amount one day, or paying a little bit a day which eventually added up to their weekly wages. All these payments also caused the creation of early banks in the 1700s, which solved all payment problems.
Aisha Kazi
The growth of wealth took place from the Industrial Revolution. Investors started to invest in factories and machineries. People wanted to start investing in new and different things. Payment was a common problem for the employers. They had problems dealing with the wages. Another problem was lack of banking systems in industrial centers. Eventually they set up to distribute capital to areas where it was needed, to areas where there was a surplus. Question: Was investment only for high class people? I think this supports and links to morality and economics are often in conflict, because problems dealing with wages affect the economy and only high class people to invest money in factories show morality.
Minh Ngo
Before England entered the Industrial Revolution, land was the largest source of wealth. Much of the powers and land were held by the landed aristocracy. As the Industrial Revolution entered, the largest source of wealth shifted to investments in new ventures. These investors were risk-takers, it was normal for powerful investors to invest in business that they have none or little knowledge about. There was many problems with paying the laborers' wages. Employers stretched their thinking as far as they could to pay their employees. Some paid their workers on a daily basis, others weekly or monthly. This problem did not stand alone, it was caused by another problem, the lack of good, reliable banking systems in England. For example, the Bank of England was interested in trading and other financial affairs of the nation than the manufactureres. In the 1700s, private banks sprung up from the ground to lessen this problem, but they collapseas the Bank of England tighten credit. Since they were small and had limited resources, they failed to meet the demands of their customer.
How did the Industrial Revolution change the main source of wealth fromland to investments? Why?