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5 Terms
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Tariffs
Taxes on imported goods
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Friedrich List
German-Ameriocan who wrote "National System of Political Economy" in 1844; he advocated industrialization by railroad building and protective tariffs
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National System
This book was written by Friedrich List in 1840. He believed that industrialization would relieve people of poverty and help achieve happiness. He supported railroad building, tariffs, and the Zollverein. In this book he also expressed his beliefs that free trade was only beneficial to the British and that tariffs would aid countries in catching up with the English. A revival of his ideas began in earnest during the 1870s.
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Ruhr Valley
coal-rich industrial region of Germany
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Samuel Slater
He was a British mechanic that moved to America and in 1791 invented the first American machine for spinning cotton. He is known as "the Father of the Factory System" and he started the idea of child labor in America's factories.