Terms in this set (42)
Essential elements needed for economic success; land, labor and capital. Land refers to natural resources, labor refers to a strong population to provide workers and capital refers to funds for investment.
Factors of production
Any craft occupation performed in the home, as opposed to a factory.
Opposed machines that were "hurtful to the commonality" in Britain. They felt machines / industrialization was putting them out of work, and they burned factories and destroyed machines in protest. They carried out their mission while trying to avoid physically hurting any workers.
Organizations representing workers' interests.
Organized by unions as a form of protest against poor working conditions and low wages.
System of manufacturing large numbers of identical items.
Identical machine-made parts that made production and repair of factory-made goods more efficient.
Product moves from worker to worker, as each one performs a step in the manufacturing process. With this division of labor, workers can make many items quickly.
Economic idea that begins to develop in the late 1700s; people began to think that government should not interfere with business. It is a French phrase meaning "free to do."
Private ownership of property and individual choices in the economy; limited to no government regulation.
Leading advocate for laissez-faire economics. In 1776, he published The Wealth of Nations, in which he argued that markets free from government interference benefit everyone. This is called a market economy, where businesses compete freely against one another for trade.
Prime example of an entrepreneur, or individual that starts a successful business. He was a Scottish immigrant to the United States, and is responsible for the major expansion of the American steel industry.
More radical view of socialism; wrote the Communist Manifesto with Friedrich Engles. They declared that as capitalism grew, more and more workers would fall into poverty. Marz believed that eventually, workers would rise up and govern themselves and capitalism would collapse.
Tied to economic thinker Robert Owen. Economic theory that for the good of all, society or the government, instead of individuals, should own property and control industry. This is a clear contrast to capitalism, where there is private ownership of land and property, and little government involvement or regulation.
Economic system in which the government owns almost all the means of production and controls economic planning.
Held over one thousands patents for new inventions; developed the first usable light bulb.
Involved forcing air through molten metal to burn out carbon and other impurities that make metal brittle. Using this process, factories increased their production of locomotives and railroad tracks and stronger steel was used to build bridges and buildings.
First entrepreneur to use mass production to create cheaper products (cars) that more people could afford.
Colonies provided raw materials, there was political stability within the nation itself which encouraged commerce, they had a powerful navy to defend shipping, the government supported business, strong agricultural system and they had all the factors of production.
Why did the Industrial Revolution begin in Great Britain?
Instead of making clothing products by hand, faster production was possible with power driven machinery.
How did industrialization cause a revolution in the production of textiles?
What was the significance of the steam engine? The power of steam was able to power machinery; the steam engine was used in textile mills initially, then expanded to transportation (such as steamships).
How did steam power the Industrial Revolution?
1760-1830 in GB, 1815 France, 1850s "Germany"
Where and when did industrialization spread beyond Great Britain?
Manual labor took place in the home or on farms, production of textiles and other products in this manner were referred to as cottage industries.
How was production organized before factories?
1. Child labor, very dangerous conditions, 12+ hour days
2. 1700s-1800s, very poor conditions
3. Pollution, severe punishments and poor sanitation / disease common
Describe the working and living conditions in factories and factory towns.
Nothing, until many in Great Britain began calling for reforms in the 1830s; reforms slowly took place afterwards.
What role did the government play in the workers' struggle for better conditions?
Luddites - Destroy machines
Labor unions / strikes - Pressure gov't for reforms
What actions did workers take to try to improve their working conditions?
Advantages include dramatic increase in production so that businesses could sell more products at a lower cost and more people could afford those products. Disadvantages were repetitive jobs for workers.
What were the effects of mass production?
Laissez-faire economics (government hands off in decision making) is highlighted by Adam Smith in The Wealth of Nations, Robert Owen writes of the ideas surrounding socialism, and Karl Marx and Fredreich Engles published The Communist Manifesto to describe their radical views of socialism. See definitions on first page for each economic system.
What new ideas about economics developed during the Industrial Revolution and who are the key individuals behind those ideas?
Communism is an extreme form of socialism; While socialism calls for more government control and regulation in an economy, communism calls for total government control and ownership of all aspects of an economy. This is also referred to as a "command economy," where the government owns all means of production and controls economic planning.
How do socialism and communism differ?
In terms of home life, women stayed at home and men worked in the factories. Women were expected to teach morals at home. In terms of the impact on whole nations, Great Britain, France and Germany became leaders in the global economy. They also massed produced ships and weapons. In general, industrialized nations achieved power, military strength and an increase in overall wealth, standard of living and leisure time.
How did the Industrial Revolution affect society?
Factories no longer relied on steam engines powered by waterways, the work day could be extended past sunset, cheaper / more convenient light source was available (compared to fuel oil), electricity led to other inventions.
How did electric power affect industry and daily life?
Increased production of stronger steel made the expansion of railroads possible. Steam engines on ships increased transportation options.
What advances in transportation occurred during the Industrial Age?
Telegraph, telephone, radio; made possible by the invention of electricity. Faster communication and more connectivity.
What were the advances in communication, and how were they achieved?
Under capitalism, individuals own property and control industry, whereas under socialism, the government or society does.
How do capitalism and socialism differ?
The process in which a society or country (or world) transforms itself from a primarily agricultural society into one based on the manufacturing of goods and services
a push in the 18th and 19th centuries to take land that had formerly been owned in common by all members of a village, or at least available to the public for grazing animals and growing food, and change it to privately owned land, usually with walls, fences or hedges around it.
standard of living
the level of wealth, comfort, material goods and necessities available to a certain socioeconomic class in a certain geographic area.
what impact did industrialism have on the environment
Air and rivers became polluted
how did the factory system impact workers, specially the conditions within them
Air and rivers became polluted
what factors led to the growth of the middle class
In Britain skilled workers were paid well and helped create a middle class. In America, factories need management and supervisors to run the factory floor.
how did medical technology impact health/life expectancy? what was the effect of this
Advancements in technology led to a longer life expectancy which in turn increased the population of industrialized countries. Anesthetic was used as a pain killer during procedures, and high doses were used to put people to sleep during procedures
how did cities grow and change in the late 1800s
new activities like reading by electric light and riding bicycles were signs of the changes that occurred during the Industrial Age. many changes took places in the cities. urbanization- growth in the proportion of people living in towns and cities. cities underwent a transforms
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