Industrial Revolution Flashcards
crop rotation
planting crop based on the health of the soil
industrialization
the process of developing machine production of goods
factors of production
the recourses needed to produce goods and services that the industrial revolution required , including land labor and wealth
factory
large buildings containing machines to create product
entrepreneur
a person who organizes, manages, and takes on the risks of a business
urbanization
city building and movement of people to cities
Middle class
social class made up of skilled workers, professionals, business people 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
Laissez faire
the economic policy of letting owners of industry and business set working conditions without interference
3 natural laws of economics
the law of self interest ( people work for their own good) law of competition (competition forces people to make a better product) the law of supply and demand (enough goods would be produced at the lowest possible price to meet demand in a market economy)
capitalism
economic system in which the factors of production are privately owned and money is invested in business ventures to make profit.
Utilitarianism
philosophy introduced by Jeremy Bentham, where people judged ideas, institutions and actions on the basis of their utility, or usefulness.
socialism
economic system where the factors of production are owned by the public and operate for the welfare of all.
Karl Marx
german journalist who introduced the world to a radical type of socialism : Marxism. father of communism, wrote the communist manifesto
Jeremy bentham
introduced utilitarianism, argued that the government should try to promote the greatest good for the greatest number of people. believed that the individual should be free to pursue his or her own advantage without interference from the state
Adam Smith
professor at university of glasgow, scotland, defended idea of free economy. believed liberty guaranteed economic progress. introduced the three laws of economics
David Ricardo
british economist, believed that natural laws governed economic life. wrote the book, principles of political economy and taxation. (pages 734-35)
Communism
a form of complete socialism in which the means of production would be owned by the people/
unions
voluntary labor associations
Strike
refusal to work
suffrage
right to vote
Chartist movement
a popular movement among workers and other groups who still could not vote to press for more rights
Queen Victoria
reigned at the age of 18, queen for nearly 64 years, during victorian age the british empire reached the height of its wealth and power
Third Republic
the form of government created when national assembly agreed to set up a republic, that lasted over 60 years
anti-semitism
prejudice against Jews
home rule
local control over internal matters only
Irish Republican Army
(IRA) an unofficial military force seeking independence for ireland.
assembly line
a line of workers who each put a single piece of unfinished cars as they pass by on a moving belt
theory of evolution
theory introduced by charles darwin, surviving members of a species produce offspring that share their advantages, gradually over many generations the species change, so that a new species evolves.
psychology
study of the human mind and behavior
Mass culture
appeal of art, writing, music, and other forms of entertainment to a larger audience
Agricultural Revolution
when wealthy landowners bought farming lands and improved farming methods
Luddites
a group of workers that attacked whole factories in northern England, destroying laborsaving machinery
Wealth of Nations
book written by Adam Smith in 1776, defending his idea of free economy, stating that economic liberty guaranteed economic progress
Thomas Malthus
british economist that believed natural laws governed economic life. wrote “An Essay on the Principle of Population” in 1798, arguing that population tended to increase more rapidly than food supply
John Stuart Mill
a philosopher and economist who led the utilitarian movement. he questioned unregulated capitalism, believed it was wrong for workers to lead deprived lives
Communist Manifesto
23 page pamphlet written by Karl Marx and Friedrich Engels, argued that human societies have always been divided into warring classes.
Charles Darwin
English naturalist who introduced the theory of evolution and wrote the book “on the origin of species by means of natural selection” describing his theory.
Radioactivity
a form of powerful energy released from elements, discovered and named by Marie Curie
Crystal Palace
glass and iron structure in England built at request of queen Victoria, that displayed industrial machinery from different nations
Enclosure Act
when landowners voted to take away common farming lands to make them their own
Dreyfus Affair
when a Jewish officer in the French military (Alfred Dreyfus) was blamed for espionage and was sent to devils island for punishment
