AP EURO INDUSTRALZATION, ISMS

Industrialism

An economic system where machines do work that was once performed by animals or humans

Agricultural Revolution

period of technological improvement and increased crop productivity that occurred during the 18th and early 19th centuries in Europe

Enclosure movement

wealthy farmers bought land from small farmers, then benefited from economies of scale in farming huge tracts of land

Crop Rotation

The successive planting of different crops on the same land to maintain soil fertility and help control insects and diseases.

Factory System

the system of manufacturing that began in the 18th century with the development of the power loom and the steam engine and is based on concentration of industry into large establishments

Flying Shuttle

one of the key developments in the industrialization of weaving during the early Industrial Revolution. It allowed a single weaver to weave much wider fabrics, and it could be mechanized, allowing for automatic machine looms.

Steam Engine

invention and refinement of steam engines played a central role in the development of the Industrial Revolution during the late 1700s and early 1800s in England, Europe, and North America

Mass Production

changed the way things were made as new machines invented in the 1700s and 1800s meant it was possible to mass produce goods in factories

Assembly Line

a manufacturing process (most of the time called a progressive assembly) in which parts (usually interchangeable parts) are added as the semi-finished assembly moves from workstation to workstation where the parts are added in sequence until the final assembly is produced

Industrial Capitalism

capitalism transitioned from a feudal and agricultural system of production to one dominated by machines and equipment. The Industrial Revolution saw the sudden, sharp rise of the manufacturing, industrial and production sectors of the economy, which facilitated a rise in economic revenue

Trade Unions

an organized association of workers, often in a trade or profession, formed to protect and further their rights and interests.

Strikes

occur suddenly and have harmful or damaging effects on the company usually.

Means of Production

the facilities and resources for producing goods.

Textile

raw materials used for making fabrics

Industrialization

an area or country develops a strong manufacturing sector

Raw materials

natural material that is used by human industry to create a product

Factory

an industrial building where workers manufacture goods or supervise machines that produce products

Entrepreneur

a person who takes the risk of organizing and operating a new business

Economic systems

the system of production, distribution, and consumption of goods and services of an economy

Command Economy

an economic system in which prices and supplies are determined by the government

Market Economy

an economic system in which prices are determined by market prices

Capitalism

an economic system with private ownership of means of production(like U.S.)

Free Enterprise

business competing for customers or markets

Supply and Demand

how much of something there is and how much something is wanted

Laissez-faire

the idea that government should do nothing for the economy

Labor Union

an organization of workers that is set up to protect its members interests in terms of wages, benefits, working hours, and conditions

Strike

when workers stop working in order to make demands on their employer

Communism

An economic system by Karl Marx that calls for a proletariat revolution and complete economic equality

Socialism

social and governmental system based on social and economic justice that requires government intervention in economic affairs. It also advocates some state ownership of land, labor and capital to help pay for services like education, healthcare etc.

Communist Manifesto (1848)

A book written by Karl Marx. It suggested that there would be a social revolution in which the proletariat (working class) would overthrow the bourgeoisie (middle class factory owners) and then set up a classless society where there was no private property.

invisible hand

A phrase coined by Adam Smith to describe the process that turns self-directed gain into social and economic benefits for all

Urbanization

Movement of people from rural areas to cities

Adam Smith, The Wealth of Nations

Promoted laissez-faire, free-market economy, and supply-and-demand economics. Unregulated Economy.

oppressor

one who keeps others down by the cruel use of power

exploitation

the action or fact of treating someone unfairly in order to benefit from their work.

class antagonism

The conflict between the interests of the workers and the owners of capital

Charles Fourier

(1772-1837)-A leading utopian socialist who envisaged small communal societies in which men and women cooperated in agriculture and industry, abolishing private property and monogamous marriage as well.

Utopian Socialist

Early-nineteenth century theories that sought to replace the existing capitalist structure and values with visionary solutions or ideal communities.

Haves and Have Nots

those in the world with power, wealth, and resources, and those without

Parliamentary Socialism

An ideology which aimed to create a more fair distribution of wealth using the existing democratic government.

A country that helps to provide for free K-12 education and health care for children who cannot afford it is an example of a country that practices aspects of

Socialism

Socialism and Communism both believe that

Unregulated Capitalism is immoral

Socialism and Communism both believe that

Unregulated Capitalism is immoral

Adam Smith's Capitalism is

an economic theory based on the idea of laissez-faire that is not currently being practiced in the USA.

Feminism

the belief that women should possess the same political and economic rights as men

Utopian Socialists

Early nineteenth-century socialists who hoped to replace the overly competitive capitalist structure with planned communities guided by a spirit of cooperation. Leading French Utopian socialists such as Charles Fourier and Louis Blanc believed that property should be communally owned.

Henri de Saint-Simon (1760-1825)

A leading Utopian socialist who wanted small communal societies in which men and women cooperated in agriculture and industry

Marxism/Communism

The theory that the proletariat should rise up and take over the Bourgeois class and create a classless society where there is no private property