Reilly Reader - Capitalism and the Industrial Revolution

Period 5 Reilly Reader Questions Capitalism and the Industrial Revolution Arnold Pacey – Asia and the Industrial Revolution 1. 2. 3. 4. 5.

In what ways was Indian technology considered superior to the industrial revolution? How did European products gain greater markets than those of India? How does the author distinguish between capitalism and the industrial revolution? Was India more industrially advanced than it was capitalistic? Did the British conquest of India benefit more from capitalism, industry or something else?

Adam Smith –from The Wealth of Nations 1. What would Smith say to farmer or manufacturer who wanted to institute tariffs pr quotas to limit the number of cheaper imports entering the country and to minimize competition? 2. What would he say to a government official who wanted to protect an important domestic industry? 3. What would he say to a worker who complains about low wages or boring work? 4. In his discussion of division of labor, what relationship does Smith see between the development of a capitalistic market and the rise of industrial technology? 5. According to Smith, what is the relationship between money and industry and which is more important? 6. What would Smith think about a “postindustrial” or “service” economy in which few workers actually make products? 7. What would he think of a prosperous country that imported more than it exported?