terms: industrial revolution=the time when there was a great increase in production of machine made goods. england 18th century (1700s) with the textile industry enclosure movement=when large landowners bought up small farms in england, they enclosed there farms with hedges and and fences, two results:
-new agricultural methods were created to farm vast amounts of land and small farmers who lost their land either became tenants or moved to the city crop rotation=result of enclosure movement and increased crop yields by increasing nutrients in soil power loom=it was steam powered loom that made cloth more efficient and it further changed the process of the textile production entrepreneur=self employed business person factors of production=land(natural resources), labor(work), and wealth, these are the resources needed to produce goods or services natural resources= water power and coal to fuel machines, iron to construct buildings, rivers for inland transportation and harbors for merchant ships steam engine= first used as a source of power for pumping rivers but became used in power machines in factories urbanization=city building and the movement of people to cities middle class=neither rich or poor, consisted of upper and lower middle class. UMC consisted of government employees, doctors, lawyers, and managers. LMC consisted of skilled workers such as toolmakers or printers. they enjoyed comfortable living capitalism=refers to an economic system in which money is invested in business ventures with goals for making a profit and a free market is encouraged laissez-faire=policy where business set economic and working conditions with no government regulation of the economy, and they believed that helping the poor would upset the flow of economy utilitarianism=the idea the government should try to promote the greatest good for the greatest amount of people, also believes that people and instructions should be judged on their usefulness socialism=economic system in which the factors of production are owned by the public and operate for the welfare of all marxism=radical type of socialism communism=the final phase of socialism where private property doesn't exist free market economy=competition, introduced through adam smith, buyers and sellers the communist manifesto=written by karl marx and fredrich engels collective bargaining=negotiations between workers and their employers; they bargained for better working conditions and higher wages unions=voluntary associations of workers that advocated for workers rights strikes=if factory owners refused the demands of a union the workers could refuse work until their demands were met factory act=made it illegal to hire children under the age of 9 and limited hours kids could work mines act=prevented boys under the age of 10 and women from working underground ten hours act=limited the workday to ten hours for children and women social reformer=looked for changes in the industrial working system by exposing the poor working and living conditions. social reformers expressed their feelings in books, articles, art
people: james hargreaves=invented the spinning jenny which increased the speed of spinning wool into yarn: made cheap clothes for the growing population samuel slater=invented the spinning mule that further revolutionized spinning and because of its size factories emerged near a source of power-water adam smith=wrote the “wealth of nations”, promoted laissez-faire economic and capitalism and believed that an “invisible hand” would manage the economy (things would work out themselves), idea that government shouldn’t interfere with economics rested on 3 natural laws john stuart mill=ideas of utilitarianism, was a
