The enclosure movement
Continued into the 1700s; the enclosure movement reached its height in the early 1800s in Great Britain, when a growing population increased demand and raised prices for agricultural products. The need to feed its own people during the Napoleonic Wars also made it necessary for Britain to increase its food production
a so-called gentlemen;Concerned about the wasteful practice of scattering seeds by hand over a wide area, Tull invented a seed drill, which made it possible to plant seeds in the soil in regular rows; While visiting France and Italy, Tull saw that grape farmers had good results from uprooting the weeds between the rows and breaking up the soil. Tull developed a horse-drawn hoe to do this work on his own fields in England
a system in which men and women work in their homes, The work was done by hand, and England could not produce enough cotton cloth to meet demand
was developed by John Kay, its invention was one of the key developments in weaving that helped fuel the Industrial Revolution, enabled the weaver of a loom to throw the shuttle back and forth between the threads with one hand
This machine played an important role in the mechanization of textile production. Like the spinning wheel, it may be operated by a treadle or by hand. But, unlike the spinning wheel, it can spin more than one yarn at a time. The idea for multiple-yarn spinning was conceived about 1764 by James Hargreaves, an English weaver. In 1770, he patented a machine that could spin 16 yarns at a time. (643, 727)
1780's; Richard Arkwright; powered by horse or water; turned out yarn much faster than cottage spinning wheels, led to development of mechanized looms
a loom operated mechanically, run by water putting the loom side by side wit hthe spinning machines in factories, changed workers job from running it to watching it, Invented in 1787, invented by Edward Cartwright , it speeded up the production of textiles
an American inventor who developed the cotton gin. Also contributed to the concept of interchangeable parts that were exactly alike and easily assembled or exchanged
Invented the first steam engine in 1705. (Thomas Savery created first one in 1698. Maybe Newcomen's was more widespread.) Both burned coal to produce steam, which was then used to operate a pump. By earl 1770s, many of the engines were operating successfully, though inefficiently, in English and Scottish mines.
In the 1760s, a Scottish instrument maker and engineer, studied the Newcomen engine. He invented several improvements and in 1769 patented the modern steam engine. Industry quickly adapted the Watt engine to drive the new spinning and weaving machines. As a result of Watt's invention, steam replaced water as industry's major power source
The building of new roads that made it an easier safer and faster travel conditions started by John McAdam . In the roads smaller stones topped the bigger set of stones theses roads would be a model for engineers later on.
an industrial process for making steel using a Bessemer converter to blast air through through molten iron and thus burning the excess carbon and impurities
As soon as a rail capable of supporting a heavy locomotive was developed in 1816, many experiments with the steam engines on rails went forward. In 1825, after ten years of work, George Stephenson built an effective locomotive. In 1830 his Rocket sped down the track of the just completed Liverpool and Manchester at sixteen miles per hour. (731)
Inventor of the steamboat, which as a boat that had a powerful steam engine. These enabled boats to travel upstream on rivers, thus increasing trade while at the same time improving inter and state transportation.
He developed an electric telegraph which allowed information to be transferred from one place to another by means of a strung wire using a dot-slash code. This was an early form of quick communication that helped tie people together regardless of distance.
Italian who built the first battery, hypothesized that electrical effect that luigi observed was a result of a chemical reaction, Discovered first electric cell and later created the battery, invented an electrochemical cell (1799)
Factory Act of 1833
limited the factory workday for children between 9 and 13 to 8 hours and that of adolescents between 14 and 18 to 12 hours-made no effort to regulate hours of work for children at home or in small businesses-children under 9 were to be enrolled by schools to be established by factory owners-broke pattern of whole families working together in the factory because efficiency required standardized shifts for all workers
economic system; people invested in trade & goods for profit; started because of money economy (money instead of barter); during high middle ages; new trading companies created
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
Factory owners hired large numbers of unskilled laborers, divided the manufacturing process into a series of steps, and then assigned a step to each worker
identical components that can be used in place of one another in manufactoring; In Whitney's factory, some people worked on musket barrels, others on trigger mechanisms, and still others on the wooden stocks or handles, The use of interchangeable parts for his firearms became an essential part of Whitney's system. Firearms had been handmade by skilled artisans. each gun was slightly different. Whitney designed machinery that unskilled workers could operate. This machinery turned out identical, interchangeable parts. This development made division of labor possible in a product composed of several parts that had to fit together. Whitney's system resulted in the speedy production of a large number of inexpensive muskets that could be easily repaired. Other manufacturers, realizing the usefulness of interchangeable parts, quickly adopted the idea
The manufacture of many identical products by the division of labor into many small repetitive tasks. This method was introduced into the manufacture of pottery by Josiah Wedgwood and into the spinning of cotton thread by Richard Arkwright. (602)
Type of business entity which legally has no separate existence from its owner. The owner assumes all debts, and business is done in his or her own name and there is only one owner. Although both types of businesses give their owners considerable freedom to make economic decisions, both types have disadvantages; both sole proprietors and partners are responsible for all debts even if the debts exceed the original amount of investment; sole proprietorships and partnerships usually remain small. Small companies with few workers typically cannot afford mass-production methods or the machinery necessary for large-scale prodution
a contract between two or more persons who agree to pool talent and money and share profits or losses
is a form of business organization recongized by law as a seprate legal entitiy having all the rights of a individual; A corporation is a business organization i 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. Unlike sole proprietors and partners, a shareholder's financial responsibility is limited to the amount that he or she invests
exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices
a consortium of independent organizations formed to limit competition by controlling the production and distribution of a product or service
1723-1790. Pioneering economic theorist. Father of economics. Explained how rational self-interest and competition, operating in a social framework which ultimately depends on adherence to moral obligations, can lead to economic well-being and prosperity.
English clergyman and economist, 1766-1834, wrote AN ESSAY ON THE PRINCIPLE OF POPULATION, inspired both Charles Darwin and Alfred Wallace in their seperate discoveries of the principle of natural selection, argued that human population size increases exponentially while food supplies remain relatively stable. Catastrophes check pop. growth and advocates smaller families
Principles of Political Economy (1817); "iron law of wages": rise of population means rise of amount of workers, which cause wages to fall below the subsistence level, resulting in misery and starvation
creator of Utilitarianism. Advocates "the greatest happiness for the greatest number." Used the Pain-Pleasure litmus test, rather than ideology, Believed that public problems should dealt with on a rational scientific basis. Believed in the idea of the greatest good for the greatest number. Wrote, Principles of Morals and Legislation.
idea that the goal of society should be to bring about the greatest happiness for the greatest number of people, The theory, proposed by Jeremy Bentham in the late 1700s, that government actions are useful only if they promote the greatest good for the greatest number of people.
John Stuart Mill
English Philosopher, Benthamite, wrote "On Liberty", Essay that talked about problem of how to prortect the rights of individuals and minorities in the emerging age of mass electoral paricipation. Advocated right of workers to organize, equality for women, and universal suffrage
A wealthy and idealistic Scottish textile manufacturer founded in 1825; a communal society of about 1000 people at New Harmony, Indiana.
German philosopher, economist, and revolutionary. With the help and support of Friedrich Engels he wrote The Communist Manifesto (1848) and Das Kapital (1867-1894). These works explain historical development in terms of the interaction of contradictory economic forces, form the basis of all communist theory, and have had a profound influence on the social sciences.
Adam Smith's invisible hand
Adam Smith's idea that competition acts like an invisible hand; it pushes people to do what is best for themselves
Adam Smith's first natural law and second natural law
the law of supply and demand and the law of competition---regulate all business and economic activity. In any business, Smith believed, prices----and therefore profits--- will be fixed by the relationship of supply to demand. If an article is scarce and in great demand, people will pay a high price for it. Thus profits from its sales will rise. The makers of the product will then invest their money to produce more of the scarce article. Soon the supply of the article will exceed the demand for it.
meaning "let do" or leave things alone; The British put the theory of laissez-faire into practice. Formerly, either the government or the guilds had regulated the quantity and quality of goods and the hours and wages of workers. Starting in the 1840s, most regulations were discontinued. Tariffs, which had regulated foreign trade, were abolished. Trade was almost completely unregulated. Other European countries and the United States adopted features of laissez-faire economics, although not as completely as did Britain
Economic effects of the above inventions
It introduced the Industrial Revolution; The Industrail Revolution is, a more recent change. Just 300 years ago, people could do work or produce goods only by using their own muscles, the muscles of animals, or unreliable sources of power such as wind or water. As a result, production was limited; It made it possible to do more work and produce goods in abundance. Now people could use machines driven by fuels such as coal and oil, and the supply of these fuels seemed unlimited
Social and cultural effects of the above inventions
The population grew faster than the supply of goods, If Britain could produce goods quickly and cheaply, it had existing markets, both at home and overseas. Britain's empire included parts of North and South America, Asia, and Africa. The demand was there. The problem was how to satisfy it. Here Britain had an advantage over its European neighbors. Because of advances in agriculture, Britain had better frarm machinery and more scientific methods of cultivation than most of Europe. The process of consolidating small landholdings into larger, more productive farms was already well under way. This paved the way for industry because fewer framworkers were needed, and more workers were available for other jobs
A man who could deliver brilliant speeches in Parliament even while drunk. He rashly promised to pluck feathers from the colonial goose with a minimum of squawking. He persuaded Parliament in 1767 to pass the Townshend Acts. He seized a dubious distinction between internal and external taxes and made this tax an indirect customs duty payable at American ports. But colonials didn't want taxes.