Industrial Revolution CH 9
Terms
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- Industrial Revolution
- Greatly increased output of machine-made goods that began in England in the middle 1700s.
- Enclosures
- Larger Fields
- Crop Rotation
- Townshend
- Industrialization
- The process of developing machine production of goods, required such resources.
- In order to run, factories needed to be by:
- water:streams, rivers
- entrepreneur
- a person who organizes,manages, and takes on the risks of a business
- the first locomotives where in
- great britain
- richard trevitchick
- one of the first locomotive engenieers
- Cotton Gin inventor
- Whitney
- Flying Shuttle
- Kay
- "puddling Process"
- Cort
- Early Steam Engine
- Newcomen
- Spinning Mule
- crompton
- Water Frame
- Arkwright
- Steam Engine
- Watt
- Seed Drill
- Tull
- Process to remove Impurities by blasts of cold air blown through heated iron (steal)
- Bessemer
- Spinning jenny
- Hargreaves
- replaced charcoal with coke in iron melting
- Darby
- Power Loom
- Cartwright
- Urbanization
- Movement of people to cities.
- Middle Class
- A social class made up of skilled workers, professionals, business people and wealthy farmers.
- Positive Effects of Indus rev.
- More jobs, more money, wealth to the nation, provided hope of improvement to people's lives.
- Stock
- Certain rights of ownership.
- Corporation
- business owned by stockholders who share in its profits but are not personally responsible for its debts.
- Countries otehr than UK and USA in Indus.
- germany and Belgium
-
Laissez Faire
(lehs-ay-FAIR) - economic policy of letting owners of industry and business set working conditions without interference.
- Adam Smith
-
defended the idea of a free economy, or free markets. In his book "the Wealth Of Nations".
economic liberty=economic progress
1)Law of Self-intrest-work for their own good
2)Law of competition-comp forces better products
3)Law of supply and Demand-enough goods would be produced at the lowest price - Capitalism
- Economic system in which the factors of production are privately owned and money is invested in business ventures to make a profit.
- utilitarianism
- government actions are useful only if they promote the greatest good for the greatest number of people.
- socialism
- the factors of production are owned by the public and operate for the welfare of all.
- Karl Marx
- Created a radical type of socialism called Marxism. "Communist Manifesto". Industrialization divided the human societys into warring classes.
- Communisim
-
a form of complete socialism in which the emans of production all lands, mines factories, whatever would be owned by the people.Private property would not exist.All goods etc would be equally shared..
Cuba,Russia, China. - Unions
- Voluntary Labour Associations, which factory workers joined due to their "hazordous" working environment and long hours.
- strike
- refuse to work