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Essay / Research Paper Abstract
This 5 page paper examines economic theory with an emphasis on Karl Marx. The industrial revolution is discussed in depth as the paper looks at how it would affect ideas about the economy. Bibliography lists 5 sources.
Page Count:
5 pages (~225 words per page)
File: RT13_SA542eco.rtf
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Unformatted sample text from the term paper:
They also talk about recession as they eat their thirty dollar steaks. Things are different today than they were during the 1800s and so economic theory differs too. Of course,
some points and theoretical material are viewed as timeless. They make sense in the present just as they did when they were developed. Other things are contingent on the time
period. During various eras, authors reflect on the status quo as well as history to form opinions and make projections about the future. Hicks (1969) seems to believe that economics
is something that may help to explain history, or vice versa. That there are patterns in economics and in history is not questioned. Yet, Hicks (1969) does take a
look at the mystery and intrigue surrounding the topic of theory attached to economic history. What does it tell people? A student notes that the effect of the industrial revolution
on economic theories as it respects labor and capital is important. Nowhere is this more prevalent than in Marxs works. Karl Marx wrote during the dawn of the industrial revolution
and much of what he says is related to it. Marx, above all, wrote about alienation and of the little people. He wrote about the factory workers and how they
did not feel as if they accomplish anything. This idea of course was born on the backs of the economic transition that is known as the Industrial Revolution. First, what
was the Industrial Revolution exactly? The Industrial Revolution above all gave way to a factory-centered civilization which was characterized by mass production (ODonnell, 1996). Thousands of identical products were made
on assembly lines by workers who performed specific, synchronized, repetitive tasks (ODonnell, 1996). In order to perform these tasks, the workers would have to be trained. From the industrial revolution
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