World History: Seneca Falls Convention

While it is difficult to determine exact dates, the first wave of feminism is generally considered to have taken place throughout the second half of the 19th century and into the very beginning of the 20th century. Some scholars have chosen to ..

World History: Russian Revolution

The Russian Revolution was a series of revolutions in early 20th century that ultimately resulted in the overthrow of Tsar Nicholas II and the establishment of a communist government. During the revolution of 1905, on Bloody Sunday, the Tsar’s guards fired upon peaceful ..

World History: Socialism

Socialism is a system in which, in contrast to capitalism, there is common ownership of the means of production instead of private; planned production for use instead of anarchic production for profit. With the advent of the Industrial Revolution and ..

The Class Struggle

In a Capitalist economy, the means of production are not public property. The land, raw materials, factories, machines, are owned by individuals, who are called the capitalists. Thus, the position of a person in the society depends upon whether he ..

Meaning of Utilitarianism

Utilitarianism holds that proper course of action is the one that maximizes utility such as maximizing happiness and reducing suffering. This theory was first put forward by Jeremy Bentham and John Stuart Mill. Jeremy Bentham Jeremy Bentham (1748-1832), British philosopher ..

Meaning and Examples of Laissez faire

Laissez faire refers to the economic policy of letting owners of industry and business set working conditions without interference. This policy favours a free market unregulated by the government. The term comes from a French phrase that means “let do”. ..

World History: Mercantilism

The Mercantilism theory states that there is a finite amount of wealth in the world and that it is in a nation’s best interest to accumulate this finite wealth. Since wealth is power, so by accumulating wealth, a nation can ..

World History: Industrial Revolution

Industrial Revolution began in England and soon spread to Continental Europe and North America. It roughly corresponds to a period between 1750 to 1860. The first major industry to taste the Industrial revolution was Textile Industry. However, it was the ..