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5 Social control of modern industry

The story of conditions in the early English factories has been told many times. But it may be prudent to recall the facts once again. There are still some people opposed to social control of industry. The use of men, women, and children by factory owners at the beginning of the 19-th century had all the earmarks of slave ownership starvation brought the wives and daughters of the workmen to the factories and there was no worry about wearing them out. Half-naked women were harnessed to draw carts in the mines through passages two feet seven inches high. Children of eleven worked twelve to fourteen hours a day in factories.

There was often the same food for the children that the master gave his pigs. Irons were fastened to the ankles of women and girls to keep them from running away. There were adults broken down from toil at thirty years of age and the suicide rate was high. Probably no form of human slavery was ever worse than this.

In the face of such evils changes have been making for human betterment. There has been an improving trend in public morality. Modern democratic governments make their economic systems serve the best interests of their citizens. All people should have equality of opportunity. The state should safeguard the health and well being of its men, women, and children. The individual should be free to choose his own work without interference, have the right to own property, and receive the just reward of his labour.

Vocabulary

to follow the prompting of self-interest – наслідувати підказкам своєкорисливості

unrestrained – нестриманий, невгамовний

prudent – розсудливий

to recall – згадувати, нагадувати

opposed – настроєний проти чогось

earmark – тавро, клеймо

starvation – голод

to harness – запрягати

to draw carts – тягнути візки

passage – прохід, проїзд

ankle – кісточка (на нозі)

the suicide – самовбивство

break down – цілковите знесилення

evil – лихо, зло

equality of opportunity – рівність можливостей

to safeguard – охороняти, гарантувати

just reward – справедлива винагорода

I . Complete the sentences using the text:

1. There are still some people opposed ... .

2. Half-naked women were harnessed to draw ... .

3. Irons were fastened to the ankles of ... .

4. In the face of such evils ... .

5. Modern democratic governments make ... .

6. The state should safeguard ... .

II. Say whether these statements are true or false and if they are false, say why.

1. Adam Smith didn’t believe that wealth could be most rapidly increased and most fairly distributed.

2. There are a lot of people opposed to social control of industry.

3. The use of men, women and children by factory owners at the beginning of the 19-th century had all the earmarks of slave ownership.

4. Children had to work to fourteen hours a day in factories.

5. There was often the same food for the children that the master gave his pigs.

6. Probably no form of human slavery was ever worse that this.

7. There has not been an improving trend in public morality.

8. Modern democratic governments make their economic systems serve the best interests of their citizens.

9. All people should not have equality of opportunity.

10. The state should safeguard the health and well being of its men, women and children.

III. Answer the questions basing your answers of the text:

1. What was Smith’s opinion as a believer in the doctrine known as laissez-faire?

2. Why may it be prudent to recall the facts of conditions in the early English factories?

3. What can you say about the conditions in the early English factories?

4. What were the conditions of children’s labour?

5. What is the role of modern democratic governments on the control of modern industry?

Книга: Англійська для економістів - Гаращенко

ЗМІСТ

1. Англійська для економістів - Гаращенко
2. 1. Evolution of Economic Systems, 2 Capitalism, 3 Economic factors in national development, 4 Independence of national economics, 5 Social control of modern industry
3. 2 Capitalism
4. 3 Economic factors in national development
5. 4 Independence of national economics
6. 5 Social control of modern industry
7. 6 Public revenue in Canada, 7 The national debt, 8 National income and distribution, 9 Taxes, 10 The enigma of production in the modern world
8. 7 The national debt
9. 8 National income and distribution
10. 9 Taxes
11. 10 The enigma of production in the modern world
12. 11 Market, 12 Monopolies, 13 Elasticity of supply and demand, 14 Utility, 15 Price
13. 12 Monopolies
14. 13 Elasticity of supply and demand
15. 14 Utility
16. 15 Price
17. 16 Labour and capital, 17 Money, 18 Banks, 19 Aggregate supply, 20 Aggregate supply
18. 17 Money
19. 18 Banks
20. 19 Aggregate supply
21. 20 Aggregate supply
22. 21 GNP, 22 Aggregate demand, 23 Aggregate demand, 24 Inflation, 25 Economic growth
23. 22 Aggregate demand
24. 23 Aggregate demand
25. 24 Inflation
26. 25 Economic growth
27. 26 Economic growth, 27 Economic growth, 28 Unemployment, 29 Unemployment, 30 Unemployed and employed
28. 27 Economic growth
29. 28 Unemployment
30. 29 Unemployment
31. 30 Unemployed and employed

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