Unit 2 | Lesson 1 | Early Global Interaction Flashcards
What was the Silk Road?
A network of trade routes connecting Europe to the Middle East
Definition of:
Mercantilism
Global trade controlled by the government
What did Mercantilism result in?
- Monopolies
- Exploiting colonies for natural resources
- Made the monarchy very rich
Who was Adam Smith?
A European who wanted to make nations “happier”, created the idea of Capitalism
When was the industrial revolution?
1700 - 1900
What was the industrial revolution?
A period of time where large innovations in technology lead to an extreme shift in how life worked
What were some political impacts of the industrial revolution?
- Child labor laws
- Creation of more economic values (Utopian, socialism, etc.)
What were some social impacts of the industrial revolution?
- Long working hours
- Major increase in population
- Expansion of the middle class
What were some economical impacts of the industrial revolution?
- New innovations of technology
- Growth of worldwide trade and economy
What were some short term benefits of the industrial revolution?
- Lower cost of goods
- Economic improvement
What were some long term benefits of the industrial revolution?
- Growth of the middle class
- Lead to laws protecting worker rights
What were some short term issues with the industrial revolution?
- “slums” (poor, dirty communities) created in cities
- Abuse towards working class
What were some long term issues with the industrial revolution?
- Factory work was often received as “boring”
- Technological advancements resulted in unemployment
- More factories = environmental damage
