Industrial Revolution Flashcards
Agricultural Revolution
the increase of food supply lead to a giant increase of population in Britain.
Enclosure Acts
when big land owners in parliament voted to take away public land and common farming lands to make them their own
crop rotation
the system of growing a different crop in a field each year to preserve the fetility of the land
factors of production
the resources–including land, labor, and capital–that are needed to produce goods and services
industrialization
the development of industries for the machine production of goods
factory
a large building in which machinery is used to manufacture goods
entrepreneur
a person who organized, manages, and takes on the risks of business
urbanization
the growth and building of cities and the migration of people into them
middle class
social class made up of skilled workers, professionals, businesspeople, and wealthy farmers
stock
certain rights of ownership
corporation
a business owned by stockholders who share in its profits but are not personally responsible for its debts
Crystal Palace
huge glass iron structure built at request of Queen Victoria and her husband where countries came together to display their advances in technology.
Wealth of Nations
Book written by Adam Smith about laissez faire
Jeremy Bentham
founder of Utilitarianism
laissez faire
no government interventions in economics
Adam Smith
professor, defended the idea of a free economy, or free markets.
Book: The Wealth of Nations about laissez faire
He was a big part of capitalism.
capitalism
an economic system in which the factors if production are privately owned and money is invested in business ventures to make a profit
utilitarianism
the theory, proposed by Jeremy Bentham in the late 1700s, that the government actions are useful only if they promote the greatest good for the greatest number of people
socialism
an economic system in which the factors of production are owned by the public and operate for the welfare of all
Karl Marx
founder of Communism
communism
an economic system in which all means of production–land mines, factories, railroads, and businesses–are owned by the people, private property does not exist, and all goods and services are shared equally.
union
an association of workers, formed to bargain for better working conditions and higher wages.
strike
to refuse work in order to force an employer to meet certain demands
Thomas Malthus
Book: Essay on the Principle of Population.
Population increases more rapidly than the food supply without wars, famine, and disease.
David Ricardo
Book: Principles of Political Economy and Taxation. He believed that a permanent underclass would always be poor. Wages would be forced down as population increased
John Stuart Mill
Lead the utilitarian movement in the 1800s. Called for government to do away with great differences in wealth. Wished to help ordinary people with policies that would lead to a more equal division of profits.
Favored a cooperative system of agriculture and woman’s rights.
3 natural laws of economics
the law of self interest
the law of competition
the law of supply and demand
Chartist movement
19th century Britain, members if the working class demanded reforms in parliament and in elections, including suffrage for all men, rights to strike, and improved labor conditions.
suffrage
the right to vote
Queen Victoria
During her reign Britain reached the height of its wealth and power.
Third Republic
the republic that was established in France after the downfall of Napoleon III and ended with the German occupation of France during WWII.
anti-Semitism
prejudice against Jews
Dreyfus Affair
When a Colonel in the French military was blamed for espionage and was sent to Devil’s Island for punishment.
Luddites
a group of people who smashed the machines in factories because they believed that the machines were taking their jobs
Irish Republican Army
an unofficial nationalists military force seeking independence for Ireland from Great Britain
assembly line
in a factory, an arrangement in which a product is moved from worker to worker, with each person performing a single task in its manufacture.
Charles Darwin
Developed a theory that all forms of life evolved from earlier living forms that had existed millions of years ago. (Theory of evolution)
theory of evolution
the idea, proposed by Charles Darwin, that species of plants and animals arise by means of a process of natural selection
Radioactivity
a form of energy released as atoms decay
psychology
the study of the human mind and human behavior
mass culture
the appeal of art, writing, music; and other forms of entertainment to a larger audience
Communist Manifesto
book written by Karl Marx
Why did the Industrial revolution start in England?
- new ways of transportation
- agricultural revolution
- natural resources
- increase in pop (greater labor supply)
- stable political situation (urbanization)
- a lot of wealth to invest
