Industrial revolution vocab

Adam Smith

He was the author of the wealth of nations that was published in 1776. He believed in free market, but also saw the need for government regulations.

Capitalism

An economic and political system where businesses operate independently

Laissez-faire

A philosophy that oppose nearly all government regulations that limited businesses

John Stuart Mill (1806-1873)

He was a champion of social reforms of the industrial age. He advocated for utilitarianism

Carl Marx

He was a German scholar and a writer who advocated for socialism he published the communist manifesto

The Wealth of Nations (1776)

A text and support of capitalism in the establishment of private business published by Adam Smith

Steamship

The 19th century had new forms of transportation. This new type of water transportation used steam instead of sails.

Urbanization

Movement of people from rural areas to cities

Otto von Bismarck

He was a German chancellor who focused on solving social issues

Meiji

Time period 1868 through 1912 when Japan ended isolation from the world and allowed industrialization to begin

Industrial revolution

A period of rapid growth in the use of machines in manufacturing and production that began in the mid-1700s