If we look at the period of the industrial revolution than we here always that this was the period of child labor, young kids working in dirty and unhealthy factories. All to make money for greedy capitalists. Capitalists who cared only about the ownership interest. Greedy landlords rented out unhealthy houses where the renters could also pay the rent in exchange of sex.
But if we take a closer look at this time of history that we need to ask ourselves if this is the truth. Every time in history has its good and bad sides. But we only talk about the negative sides of the industrial revolution.
If I look at the innovation of the time than it is amazing what was invented. Things we still use nowadays and can’t use live our life without it. Let’s make a short list:
– The steam engine,
– Public sanitation.
The steam engine was the start of the industrial revolution. From this moment we saw an enormous increase in wealth. Prices of industrially produced goods where being reduced. meaning more goods available for the people.
Thanks to the introduction of the railways we speeded up the distance we could travel. Many iconic trains where being launched. Just like the Orient-Express. From walking or the horse, you could travel in comfort.
The invention of the telegraph allowed communication to speed up. No longer you need to run to bring a message. With more, you could communicate. This communication allowed, for example, stock prices to be spread accurately.
Public sanitation resulted in a decline of diseases. Hygiene went up. The result: an increased life expectancy. So people were capable of producing more economic output during there life.
But historians fail to notice this. They fail to recognize that all those innovations changed our life. It changed the standards of living for the good. All out of the interest of capitalism.
But why do historians fail to recognize this? The popular mindset is that the government had to do this all. The government had to step up.
One of the real wealth producing parts was the fact that most currencies where linked to Gold. There was a Gold standard. By avoiding inflation and unlimited (wealth destructing) money printing there was a real chance to get financial ahead in life.
At the same time was there no income tax. This meant that you could have the fruit of your labor. Nowadays you work over half of the year for the government. imagine that you can have all that money working for you.
The popular view is that tax is the price we pay for a civilized country. The price we pay for common goods which we can’t produce an economically viable method. A good question to ask is if it is really needed what they produce? In most of the modern time, taxation was only imposed to finance a war. Something monarchs did frequently.
The current political class is imposing new taxes to finance its beloved programs. Unfortunately, they are not asking themselves what the need of those programs is. What is the value produced with those programs? At what cost? Just some questions we need to ask ourselves and we don’t ask them.
So if I look at this time than I see a lovely time. A period in history which changed the world for the better. When will this point of view become a popular one? When will we honor the heroes which contributed to the society?