global industrialism vocab

industrial revolution

the shift, beginning in the England during the 18th century, from making goods by hands to making by machines

enclosure

one of the fenced in or hedged in fields created by wealthy British landowners on land that was formerly worked by village farmers

factors of productions

the resources including land, labor, and capital that are needed to produce goods and services

industrialization

the development of industries for the machine production of goods

entrepreneur

a person who organizes, manages, and takes on the risks of a business

urbanization

the growth of citiis and the migration of people into them

corporation

a business owned by stockholders who share in its profits but are nott personalty responsible for its debts

laissez faire

the idea that government should not interfere with or regulate industries and businesses

capitalism

an economic system bases on private ownership and on the investment of money in business ventures in order to make profit

Adam Smith

scottish economist he became the leading advocate of laissez faire economics and is considers by some to be the father of modern economics. he writes the first true test on economuics, the wealth of nations in 1776

Karl Marx

german social philosopher and chief theorist of modern socialism and communism, he declared that has capitalism grew, more and more workers would become impoverishes and miserable.

communism

an economuc system in which all means of production , land, mines, factories, and railroads, and businesses

socialism

an economic system in which i=the factors of production are owned by the public and operate for the welfare of all

union

an association of workers protecting their rights

suffrage

womens right to vote

charels Darwin

philosopher - theory of evolution

collective bargaining

negotianion between employers and employee

mass culture

the production of works of art and entertainment designed to appeal to a large audience

assembly line

in a factory and arrangement in which a product in moved from worker to worker for a more efficient way to produce goods

theory of evolution

the idea prompted by Charles Darwin in 1859, the species of plants and animals arise by mean of a process or natural selection