Question

Write a precis of the following passage in not more than 80 words and suggest a title for it.

All through the nineteenth century, America, Africa, India, Australia and parts of Europe were being developed by British capital, and British shareholders were thus being enriched by the world's movement towards industrialization. New Towns sprang up to house large 'comfortable' classes who had retired on their incomes, and who had no relation to the rest of the community except that of drawing dividends and occasionally attending a shareholders' meeting to bully the management. On the other hand, "shareholding" meant leisure and freedom which was used by many of the Victorians for the highest purposes of a great civilization. The "shareholder" as such had no knowledge of the lives, thoughts or needs of the workmen employed by the company in which he held shares, and his influence on the relations of capital and labor was not good: he paid manager acting for the company was in more direct relation with the men and their demands, but even he had seldom that familiar personal knowledge of the workmen which the employer had often had under the more patriarchal system of the old family business. Fortunately, however, the increasing power and organization of the trade unions enabled the workmen to meet on more equal terms with the managers of the companies who employed them. The harsh discipline of the strike and lockout taught the two parties to respect each other's strength and understand the value of fair negotiation.​

Answer 1

Answer:

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Answer 2

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