Chapter 9: Transforming the Economy Flashcards
Industrial Revolution
A period of significant technological and economic change in the late 18th and early 19th centuries marked by the shift from agrarian and handcraft-based economies to industrial and mechanized production.
division of labor
The process of breaking down a complex task into smaller, specialized tasks, often associated with factory production.
mineral-based economy
An economy dependent on the extraction and use of minerals, such as coal and iron, which fueled industrialization.
mechanics
Early 19th-century term referring to skilled workers, particularly those involved in manufacturing and mechanics.
Waltham-Lowell System
A labor system in early textile mills in the United States that employed young women from rural areas and provided them with housing and moral supervision.
machine tools
Tools and machines used to manufacture other machines and parts, critical to the growth of industrial production.
artisan republicanism
A belief in the importance of skilled workers and artisans as the backbone of a republic’s economic and social stability.
unions
Organizations formed by workers to advocate for improved working conditions, better wages, and labor rights.
labor theory of value
The economic theory that the value of a product is determined by the amount of labor required to produce it, a concept influential in early labor movements.
Market Revolution
A transformation of the U.S. economy in the early 19th century, characterized by increased market participation, transportation improvements, and industrialization.
Erie Canal
A major transportation project completed in 1825, connecting the Great Lakes to the Hudson River and facilitating trade and settlement in the Midwest.
middle class
A social and economic class comprised of skilled workers, professionals, and business owners who occupied a position between the working class and the upper class.
self-made man
A term referring to individuals who achieved success and wealth through their own efforts and abilities, rather than through inherited wealth or social status.
Benevolent Empire
A movement in the early 19th century promoting moral reform and philanthropy, including efforts to combat social problems such as alcoholism and slavery.
Sabbatarian values
Beliefs and practices emphasizing the observance of the Sabbath (Sunday) as a day of rest and religious reflection.