Chapter 13 Notes Flashcards
1
Q
before 1600 most European villages worked
A
their own plots of land in order to grow food for their families
2
Q
Enclosure Movement
A
the practice of fencing or enclosing common lands into individual holdings; small land holdings put together to form larger land holdings
3
Q
Effects of the Enclosure Movement
A
- Small plot owners were forced to become tenant farmers or move to the cities 2. common lands were vanishing 3. new farming methods so more food was being produced
4
Q
Jethro Tull invented
A
a seed drill to plant seeds in a straight row
5
Q
Charles Townshend introduced a system called
A
crop rotation
6
Q
Industrial Revolution began in
A
England
7
Q
Factors of Production were
A
land, labor, and capital
8
Q
land refers to
A
all natural resources and England had plenty of coal and iron ore
9
Q
capital
A
tools, machinery, equipment, and inventory
also money
10
Q
labor
A
workers
11
Q
what was the first industry to be industrialized
A
the textile industry
12
Q
domestic system
A
work was done in the individual’s home
problem-the demand for cloth could not be met
13
Q
John Kay
A
introduced the flying shuttle
14
Q
What did the flying shuttle do for the weaving industry
A
weavers could now make cloth and could meet their demand and then some
15
Q
James Hargreaves introduced the
A
spinning jenny
16
Q
Richard Arkwright
A
introduced a new power source- running water
17
Q
factory system
A
have large numbers of workers brought under one roof and did the work in a factory
18
Q
Edmund Cartwright
A
invented the water loom
19
Q
Eli Whitney
A
introduced the cotton gin
20
Q
What happened as a result of the cotton gin being introduced
A
- Southern US became the cotton producer of the world 2. an unintended side effect was an increase in slavery or the expansion of slavery
21
Q
Early machines were driven by and later replaced water
A
water power
steam
22
Q
Thomas Newcomen
A
invented the first steam engine
23
Q
James Watt
A
patented the modern steam engine; improved the steam engine
24
Q
William Kelly/ Henry Bessemer
A
developed a cheaper more efficient method of making steel called the Bessemer process
25
Robert Fulton
first to build a profitable steamboat called the Clermont
26
Samuel Morse
developed Morse Code and the telegraph
27
Reasons Great Britain led the way in industrialization
1. plenty of coal and iron ore reserves 2. transportation system 3. entrepreneurs' capital-the people that start the businesses and take the risk 4. an increase in food production 5. colonial empire (raw materials) 6. the government supported industrialization
28
employers wanted workers who could learn
a few simple tasks
29
who became efficient workers
women and children
30
young men and women were the preferred workers because
they did not have set working habits and did not expect high wages
31
in the domestic system
1. workers usually worked unsupervised in their homes 2. turned over finished products about once a week 3. paid for the number of items completed
32
in the factory system
1. worker performed only a small part of the entire job 2. everyone employed by the factory owners 3. payment based on the number of hours worked
33
factory owners wanted to
produced goods as cheaply as possible
34
number of workers affected
wages
35
wages for men were
higher
36
What were the factory working conditions
1. pay was extremely low with no compensation for injury 2. young children had to work and there were no child labor laws 3. if you broke the boss's rules you were fired 4. very hot in summer and cold in winter 5. worked 14 hrs a day 6 days a week 6. children were not getting educated if they were working
37
tenaments
shabby apartment buildings were workers lived
38
balance of economic and political power shifted from to
agriculture
| manufacturing
39
as industries grew and cities grew a new thrived
well-educated middle class
40
this middle class consisted of
bankers, manufacturers, merchants, lawyers, doctors, engineers, and professors
41
finances reflected their
social status
42
this middle class could afford to
live in larger homes and less crowded neighborhoods
43
many from the middle class owned and hired
property
| servants
44
Since factory owners wanted to produce goods as cheaply as possible, when the cost of land or capital rose,
owners lowered workers' wages
45
Factory workers were forced to adjust their lives to the demands of the machines, which led some people to think
they were expected to become machines themselves
46
the lower classes gained increasing
social influence and political power during the Industrial Revolution
47
capitalism
an economic system in which individuals or corporations rather than governments control the factors of production
48
commercial capitalism
capitalists were merchants who bought and sold goods
49
industrial capitalism
capitalists became more involved in producing and manufacturing goods
50
division of labor
factory owner divided up the manufacturing process into steps and assigned a step to each worker
51
interchangeable parts
parts that were identical so could easily be replaced
52
applied interchangeable parts and division of labor in his gun factory
Eli Whitney
53
mass production
the system of producing large numbers of identical items
54
three key elements for mass production
division of labor, the use of interchangeable parts, and an assembly line
55
applied assembly line concept to automotive process
Henry Ford
56
sole proprietorship
a business owned and run by just one person
57
partnerships
a business owned and run by two or more people
58
monopoly
where a single corporation has almost complete control of the production or sale of a single good or service; a company exclusively controls a product
59
cartel
where several large companies secretly combine to set production; where several giant corporations combine to control every stage of entire industries
60
business cycle
phases in the economy that go up and down; alternating periods of prosperity and decline
61
name and describe the phases of the business cycle
1. peak-highest level of the cycle 2. expansion-we are rounding the corner 3. contraction "recession"-cycle starts to downturn or go down 4. trough-the lowest point in the cycle
62
mercantilism is a theory based on
the belief that the world contains only a fixed amount of wealth (gold was the standard) (must try to accumulate gold)
63
physiocrats said that
natural laws should govern economic life
64
Adam Smith wrote
The Wealth of Nations in 1776
65
Adam Smith was the founder of
classical economics
66
Adam Smith said that the law of supply and demand governed
all business and economic activity
67
the laws of competition said that
as manufacturers compete with one another to sell products they have to lower prices so as to be more competitive
68
laissez-faire
means "let it be" or "leave things alone"; the belief that government should not interfere with the operations of businesses
69
Thomas Malthus was who wrote an essay called
an Anglican clergyman who became a professor of economics
| An Essay on the Principle of Population
70
Thomas Malthus said in his essay that
people multiply more rapidly than the food supply increases
71
David Ricardo published
Principles of Political Economy and Taxation (1817)
72
David Ricardo introduced the
iron law of wages
73
the iron law of wages said
1. when labor is plentiful, wages remain low 2. when labor is scarce, wages rise
74
dismal science
the new social science of economics
75
humanitarianism
people who work to improve the condition of others
76
In utilitarianism Jeremy Bentham said that the law is useful if
it benefit the greatest number of people; it led to the "greatest happiness of the greatest number" of people
77
John Stuart Mill argued for utilitarianism when he said that
government should work for the good of all its citizens
78
What were the objectives of the labor unions
better wages and better working conditions
79
what did the Combination Acts (1799/1800) in Britain say
it was legislation that said that workers who united to protest conditions in factories could be imprisoned
80
collective bargaining
workers and management work together to negotiate for better conditions and better wages
81
socialism
governments own the means of production and operate them for the benefit of all people, rich or poor
82
the economy during the Industrial Revolution shifted from
agriculture to manufacturing
83
a few people became as a result of this shift but most remained
enormously rich
| poor
84
reformers argued that the only way to distribute wealth was
to change the ownership and operation of the means of production
85
means of production include
capital and equipment used to produced and exchange goods
| ex. land, factories, transportation systems, and mines
86
reformers wanted to establish a system that would
do away with the profit motive and competition
87
the reformers believed that everyone had a right to
share in the profits
88
utopian socialists
believed people could live together peacefully and work for the common good
89
Sir Thomas More published
Utopia
90
in his book Utopia, Sir Thomas More worked out plans for
a perfect ideal community
91
Robert Own was one of the most
influential utopian socialists
92
villages of cooperation
self-supporting communities
93
Karl Marx wrote which was
The Communist Manifesto
| a book establishing the main ideas of communism
94
Karl Marx divided society into two classes. What are those classes?
1. the bourgeoisie-the owners-called the "haves" 2. the proletariat-the working class-called the "have nots"
95
Labor supply theory
the laborers (or havenots) are going to create wealth but the wealth will stay with the owners
96
dictatorship of the proletariat
1. the owners are going to continue to get wealthy 2. and continue to drive the workers into poverty
97
people would eventually and the state would " "
rebel
| wither away
98
when people rebel it would result in a
truly classless society
99
pure communism
a truly classless society
100
who said "from each according to his abilities to each according to his needs"
Karl Marx
