Chapter 19: The Industrial Revolution

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Stuff for the final on ch 19... the key term definitions are from the glossary of the textbook and most of the people definitions are from the crossword.... feel free to edit/add!

Industrial Revolution

changes beginning in the 1700s when power-driven machines began to do much of the work that people had done before

Enclosure Movement

practice of fencing or enclosing common lands into individual holdings

Crop Rotation

the practice of alternating crops of different kinds to preserve soil fertility

Factors of Production

basic resources necessary for industrialization, such as land, capital, and labor

Mechanization

use of automatic machinery to increase production

Domestic System

method of production in which work is done in homes rather than in a shop or factory

Factory System

production of goods in factory through the use of machines and a large number of workers

Bessemer Process

method of making steel that involves the forcing of air through molten iron to burn off carbon and other impurities

Capitalism

economic system in which private individuals rather than the government control the factors of production

Commercial Capitalism

early phase of capitalism involving merchants who bought, sold, and exchanged goods

Industrial Capitalism

type of capitalism occurring during the Industrial Revolution when capitalists were involved in producing and manufacturing goods themselves , often using mechanized and industrialized methods of production

Division of Labor

characteristic of civilizations in which different people perform different jobs

Interchangeable Parts

that can go equally well in other components

Mass Production

system of manufacturing large numbers of identical items

Sole Proprietorship

business owned and controlled by one person

Partnership

business owned and controlled by two or more people

Corporation

business organization in which individuals buy shares of stock, elect directors to decide policies and hire managers, and receive dividends according to the number of shares they own

Monopoly

complete control of the production or sale of a good or service by a single firm

Cartels

combinations of corporations that control an entire industry

Business Cycle

pattern consisting of alternating periods of prosperity and decline

Depression

lowest point of a business cycle

Free Enterprise

economic system based on supply, demand, and competition, where laws and regulations are thought to interfere with the working of the system

Laissez-faire

belief that the government should not interfere with the operations of business

Utilitarianism

belief that the principle of utility, or usefulness, was the standard by which to measure a society and its laws

Strike

bargaining method involving the refusal of workers to work until their demands have been met

Unions

associations of workers that plan actions and coordinate demands for workers

Collective bargaining

process of negotiation between union members and management

Socialism

political and economic system in which the government owns the means of production

Utopian Socialists

persons who believe that people can live at peace with each other if they live in small cooperative settlements, owning all of the means of production in common and sharing the products

Bourgeoisie

city-dwelling middle class, made up of merchants, manufacturers, and professional people such as doctors and lawyers; in Marxist philosophy, owners of property

Proletariat

name given by Marx to the working class

Authoritarian Socialism

economic and political system in which the government owns almost all the means of production and controls economic planning; communism

Communism

economic and political system in which the government owns almost all of the means of production and controls economic planning authoritarian socialism

Democratic Socialism

political system in which the government takes over the means of production peacefully; people retain basic human rights and partial control over economic planning

John Stuart Mill

believed in laissez-faire but believed government should work for the well being of all

Charles Townshend

Implemented crop rotation

Jethro Tull

Invented seed drill

Jethro Wood

invented iron plow with standard parts

John Kay

invented flying shuttle in 1733

Richard Arkwright

Invented water frame in 1769, opened first spinning mill

James Hargreaves

invented spinning jenny in 1760

Samuel Crompton

invented spinning mule

Edmund Cartwright

invented power loom

Eli Whitney

invented cotton gin in 1793

Charles Goodyear

discovered processes of curing and vulconizing (rubber industry)

Robert Fulton

used steam engine to establish the first regular steamboat service

Samuel Morse

invented Morse Code and the telegraph

Alexander Graham Bell

invented the telephone

Jeremy Bentham

argued the theory of utilitarianism

Henry Bessemer

Developed cheaper process of producing steel by forcing air through molten iron to burn off impurities

John McAdam

developed method of building better roads by laying stones on each other

Karl Marx

journalist, co-author of the "Communist Manifesto" and founder of communism

David Ricardo

English business leader and politician who believed supply and demand determine wages

James Watt

developed the steam engine

Sir Thomas More

English humanist who described a model community in the book "Utopia"

Robert Owen

utopian socialist who believed in the natural goodness of people

Adam Smith

author of Wealth of Nations who argued that two natural laws regulate the economy

Cyrus Field

laid first transatlantic telegraph cable

Charles Dickens

English author who used novels to attack selfish business leaders

Thomas Malthus

professor of economics and author who believed that population increase posed the greatest challenge to human progress

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