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60 terms

Chapter 19: The Industrial Revolution

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!
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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