What were the different economic and philosophic ideologies as a result of the Industrial Revolution?

The Industrial Revolution gave rise to several key economic and philosophical ideologies, most notably capitalism and socialism. Capitalism, characterized by private ownership and free markets, emphasized individual entrepreneurship and profit maximization. In contrast, socialism emerged as a response to the inequalities produced by capitalism, advocating for collective ownership and the redistribution of wealth to ensure social welfare. Additionally, utilitarianism gained prominence, promoting the idea that actions should be evaluated based on their consequences for overall happiness, reflecting the changing societal values of the time.