Chapter 29 Flashcards
Factory System
Most efficient production in Britain
Watts Steam engine
First model of the steam engine to transport goods
Luddites
Textile artisans who protested against the machines
Capitalism
Free market system
Josiah Wedgewood
Potter with famous teasets
Eli Whitney
Invented cotton gin 1794
Corporations
Independent legal entity owned by shareholders
Monopolies
One person owns an entire business
Crystal Palace Exhibition
Temporary structure that had exhibitions of culture and industry
Demographic transition model
Transition from high birth and death rates to low birth and death rates
Thomas Malthus
English clerk and scholar. Made the demographic transition model
Utopian Socialists
Modern socialist thought for future societies
The communist manifesto
Written by carl Marx and Fredrick Engels. Outlining communist rule
Witte
Policies modernized Russian economy
Zaibatsu
Japanese term referring to business and financial conglomerate