Industrialization, Capitalism, and Social Reform Movements

Industrial Development

Growth of industries using mechanization and resources.

Textile Industry

First sector to mechanize in the US.

Railroads

Key infrastructure driving industrial expansion in America.

Corporations

Businesses owned by stockholders sharing profits.

Capital

Initial money needed for business investments.

Standard Oil

Oil company founded by John D. Rockefeller.

Carnegie Steel Company

Steel company founded by Andrew Carnegie.

Big Business

Large corporations controlling entire industries.

Mechanization

Process of using machines for production.

Middle Class

Social class emerging from industrialization opportunities.

Social Reform

Movement aimed at improving societal conditions.

Industrialization

Transition from agriculture to industrial economies.

Immigration

Movement of people contributing to labor supply.

Economic Power

Wealth generated from industrial activities.

Labor Conditions

Work environment affecting wages and hours.

Entrepreneurs

Individuals who start and manage businesses.

Stockholders

Investors owning shares in a corporation.

Technology Boom

Rapid advancements in technology during the late 1800s.

Agricultural Revolution

Changes in farming leading to increased productivity.

Napoleonic Wars

Conflicts disrupting European industrialization progress.

Belgium's Industrialization

Started with secret spinning machinery plans.

Geographical Barriers

Natural obstacles hindering industrial development.

Social Structure

Societal organization affecting industrial growth.

Laissez faire

Economic policy allowing free market without government interference.

Adam Smith

Philosopher advocating free economy in 'The Wealth of Nations'.

Three natural laws of economics

Principles governing economic life according to Smith.

Capitalism

Economic system with privately owned production factors.

Thomas Malthus

Economist arguing population grows faster than food supply.

Permanent underclass

Ricardo's theory of always existing poor population.

David Ricardo

Economist who expanded Malthus's population theory.

Utilitarianism

Philosophy judging actions by their usefulness to society.

Jeremy Bentham

Philosopher who introduced utilitarianism in the late 1700s.

John Stuart Mill

Philosopher advocating for workers' rights and wealth equality.

Socialism

Economic system promoting public ownership for welfare of all.

Marxism

Radical socialism introduced by Karl Marx and Engels.

The Communist Manifesto

Pamphlet outlining Marx and Engels' socialist ideas.

Economic progress

Advancement in economic conditions and standards of living.

Free trade

Unrestricted commerce between countries without government interference.

Government intervention

Action taken by authorities to improve social conditions.

Social justice

Fair distribution of wealth and opportunities in society.

Cooperative agriculture

Farming system promoting shared ownership and benefits.

Public ownership

Government control of key industries for public welfare.

Warring classes

Marx's concept of societal divisions based on class conflict.

Legal reforms

Changes aimed at improving justice and legal systems.

Education reforms

Improvements in educational systems for better access and quality.

Industrialization effects

Negative consequences of rapid industrial growth on society.

Bourgeoisie

Middle class 'haves'; employers in society.

Proletariat

Working class 'have nots'; laborers.

Industrial Revolution

Period of rapid industrial growth affecting class dynamics.

Conflict

Struggle between bourgeoisie and proletariat.

Marx and Engels

Philosophers advocating for worker revolution.

Pure Communism

Final phase where all property is communally owned.

Means of Production

Resources used to produce goods and services.

Collective Bargaining

Negotiation process between workers and employers.

Labor Unions

Voluntary associations advocating for workers' rights.

Strikes

Workers' refusal to work in protest.

Abolition of Slavery

Movement to end slavery and promote rights.

William Wilberforce

Key figure in British abolition movement.

Emancipation Proclamation

1863 declaration freeing slaves in Confederate states.

Reform Movements

Efforts to improve social and political conditions.

Women's Rights Movement

Advocacy for women's equality and rights.

Economic Forces

Factors influencing society's structure and dynamics.

Socialism

Economic system with collective ownership of production.

Classless Society

Society without class distinctions or hierarchies.

Higher Wages

Increased pay offered for factory work.

Factory Conditions

Often harsh environments faced by workers.

Democratic Reform

Changes aimed at improving democratic governance.

Revolutionary Leaders

Figures like Lenin and Mao adapting Marxism.

Slavery in the Americas

Continued enslavement until late 19th century.

Public Education

Movement for accessible education for all.