World History – Chapter 25

The change from mostly hand maid goods to machine maid goods starting in England in the 1700's.

A fenced or hedged in field made by rich British landowners. Land was taken from village farmers who once worked the fields.

It was the planting of different crops in one field every year to bring back nutrients. This became one of the best developments by the scientific farmers.

Process of making machine produced goods that used natural resources.

The required resources to produce goods and services for the industrial revolution. Land, labor and capital (wealth).

Where spinning and weaving machines were set up - Factories needed water power so the very first ones were built by rivers and streams.

Someone who manages and takes on the risks of a business.

(1) Business people invested in the making of new inventions. (2) Britain had a highly developed banking system. (3) Growing overseas trade. (4) People encouraged by availability of bank loans to invest in machinery.

Rising populations helped the industrial revolution because it provided enough workers (producers) and enough people to buy and consume all the goods made (consumers).

The cotton gin that was invented by Eli Whitney. It multiplied the amount of cotton that could be cleaned.

City building and people moving to the cities.

A social class consisting of talented workers, rich farmers, business people and professionals.

Because the factories offered better pay than farms did and people were able to wear better clothes, eat better food and afford homes. People flocked for jobs and others flocked to consume goods.

The middle class

Some of the negative effects of the rapid growth of Manchester were the terrible hours of the work in the factories, the small breaks and the diseases and shortened life span that came along with breathing in all the fluf and being hurt from machines. Another negative aspect was the child laborers who were beaten and hurt by machines. Many children got very sick and died and the overall life expectancy for those who worked in the factories was shorter because of all the pollution. The factories made the air black and poisoned the river from material dyes.

Industrialization contributed to city growth because it brought so many people to the cities for work and to consumer goods. More and more people began settling in cities and investing their money in machines and the machines were in the cities.

Rights of ownership. A piece of ownership or a piece of the company - sold to make money. The people who bought these became part owners.

Business owned by stock holders who share profits but are not equally responsible for debts.

The early industries mechanized in the U.S were the spinning wheel for textiles, the mill and the railroad.

Belgium led Europe in adopting industrialization because it had good natural resources and skilled British workers. William Cockerill snuck in plans for spinning machinery so they were able to build them and produce the same things.

The industrial revolution shifted the world balance of power by bringing up a lot of competition between countries and increased poverty in less developed or unindustrialized countries. It made the gap between wealth and poverty even greater.

A policy that allows other of an industry and or business set their own terms and conditions without interference from the government. Translated means "Let do".

A professor who taught in Scotland at the University of Glasglow who wrote a book taking the side of a free economy or free markets. He believed that economic liberty equaled economic progress and that the government should not interfere.

Economic system where money is used towards business for brofit and factors of production are privately owned.

The belief that people should judge ideas, institutions and actions based on their usefulness or success. People should fight for their own advantage without interference from state.

Factors of production publicly owned and benefit everyone. Wanting everyone to have equal everything. Economy should be planned.

German Journalist and leader of radical Marxist communism.

Form of complete and pure communism where all production would be owned by the public. No such thing as private property. Everything equally shared.

Association or group of workers that come together to fight or compromise for better working conditions or higher pay.

When many people refuse to work.

(1) the law of self-interest - People work for their own good. (2) The law of competition - competition forces people to make better product. (3) The law of supply and demand - enough goods would be produced at the lowest possible price to meet demand in a market economy.

The early socialists believed that government and wealthy people should take it upon themselves to improve the lives of others. They wanted everything to be equal. They believed everything should be controlled by the government but owned by the public.

Workers joined unions because they wanted to be heard and in unions they felt they would be. They wanted better working conditions and better pay and felt that if they did it in this way they would eventually get it. They thought that by threatening to leave they could get the owners to make agreements. Without workers the factories couldn't function and without the factories the owners and shareholders wouldn't get money.

The main problems were anti-union and strike laws that limited their ability to strike and be heard. They overcame this by persevering.