Industrial Revolution

What was the Industrial Revolution?

a slow process in which major technological advances were made from about 1750-1900s

- machines replace humans

- new energy sources developed

- rural/country lifestyle began to disappear

What did the Industrial Revolution replace?

cottage industries

What were cottage industries?

home based manufacturing (businesses at home)

What were the main causes of the Industrial Revolution?

- agricultural revolution

- natural resources

- population growth

- capital (money)

Parts of the agricultural revolution

- crop rotation

- enclosure movement

What was the enclosure movement?

Land was bought up and fenced off by wealthy landowners

What are some natural resources?

1. coal - burned fuel

2. iron ore - to build machines

3. river water - water power and transportation

How was the government and economy stable?

1. there were developed banking systems, trade, and wealth

2. there were no recent wars

3. the parliament supported business

4. there were no political revolutions

Spinning Jenny

- invented by James Hargreaves

- spun thread quickly

Steam Engine

- invented by James Watt

- powered machines

Steel Process

- invented by Henry Bessemer

- produced stronger steel at a cheaper price

Water Frame

- Invented by Richard Artwright

- spinning machine that was powered by water

Power Loom

- invented by Edward Cartwright

- it helped weavers catch up to the thread

- operated by horse, water, and steam power

Factory System

- 1760s

- cloth production moves from homes to buildings

- James Watt reinvented the steam engine

- Factories now run continously

Benefit of steam engine trains and steamboats

goods could be transferred easily and quickly

urbanization

people began to move into cities

laissez-fair

leave alone

Who wrote about capitalism?

Adam Smith, The Wealth of Nations

Goal of capitalism

Individuals should pursue their own self-interest by working to earn individual profit.

Belief of capitalism

competition improves society

Are there social ranks in capitalism

yes

Who owns businesses? Who decides what people can produce and buy?

individuals

Who can you work for under capitalism?

anyone you want

Goal of communism

We should create a classless society by fighting to abolish class distinctions so that we can distribute resources equally.

Belief of communism

complete equality improves society

Are there social classes in communism?

no

Who owns businesses in communism?

The government operates and owns all businesses. No small businesses are allowed.

Who decides what individuals can produce and buy?

The government

Who can people work for under communism?

most people work for the government

Who wrote about communism?

Karl Marx and Freidrich Engles, The Communist Manifesto