Laissez-faire Capitalism: Social Darwinism (SOC, WXT) (jan 1, 1870 – jan 1, 1910)

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The introduction of Darwin’s theory of evolution and natural selection was a revolutionary concept in all fields. Natural selection essentially states that the unit with the fittest attributes will prosper while those who are weak will die off; essentially, survival of the fittest. In society and economics it created parallel interpretations, known as Social Darwinism, of the dynamic of the market, wealth, and the social hierarchy. This translation of Darwin's theory into economics was produced by english philosopher Herbert Spencer who believed that concentrating wealth in the hands of the “fit” would benefit the majority. Emphasizing Spencer’s argument, Professor William Graham Sumner from Yale University, believed that by aiding the poor, we are disrupting the flow of nature and weakening the evolution of man. Not to mention that under the same premise, ideas that were deemed “scientific” at the time made towards proving the inferiority of blacks and the superiority of whites were made. These applications of Darwin’s theory of evolution towards animals and applying them to humanity were utterly controversial and profoundly problematic throughout the 20th century.

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