modern u5

Industrial Revolution

A period of rapid change where production shifted from hand tools and farms to machines and factories; began in Britain and spread worldwide; resulted in major economic and social transformation

enclosure

The process where wealthy landowners fenced off common land for private farming; forced many small farmers off the land and pushed them to cities for factory work

crop rotation

An agricultural technique where different crops are planted in a planned sequence to prevent soil exhaustion and to increase yields and long term fertility

industrialization

The process of developing industries that use machines factories and new technologies to mass produce goods and replace traditional agricultural economies

factors of production

The resources needed to produce goods and services including land for resources labor for work capital for machinery and money and entrepreneurship to organize production

factory

A centralized workplace where machines and large numbers of workers produce goods efficiently often involving long hours dangerous conditions and child labor during the Industrial Revolution

entrepreneur

A person who organizes resources starts businesses and takes financial risks to innovate and earn profit

urbanization

The movement of people from rural areas to cities in search of factory jobs and better economic opportunities

middle class

The social group between the wealthy and the working class made up of merchants managers professionals and factory owners who lived with more comfort than laborers

stock

A share of ownership in a company that allows investors to provide capital and to receive dividends or profits if the company succeeds

corporation

A business organization owned by shareholders where the company is legally separate from its owners and investors have limited liability

laissez faire

An economic philosophy that argues for minimal government interference in business allowing markets to regulate themselves through supply and demand

Adam Smith

A Scottish economist who wrote The Wealth of Nations and argued that self interest and competition guide efficient markets

capitalism

An economic system where private individuals own businesses and property and where market forces determine production prices and profits

utilitarianism

A moral philosophy that evaluates actions and policies by their ability to produce the greatest good for the greatest number of people

socialism

An economic system that advocates collective or state ownership of major industries to reduce inequality and to protect workers rights

Karl Marx

A German philosopher and economist who criticized capitalism argued that it exploited workers and coauthored The Communist Manifesto

communism

A political and economic system envisioned by Marx where property is commonly owned social classes are abolished and wealth is distributed according to need

union

An organized association of workers that seeks to improve wages hours and working conditions through collective bargaining

strike

A collective action where workers stop working to pressure employers into meeting demands such as higher pay or safer conditions

Why the Industrial Revolution began in Britain

Britain had abundant coal and iron resources a strong banking system a stable government colonies to sell goods improved agricultural methods and a growing workforce freed by enclosure

Story of the Industrial Revolution

Began with agricultural innovations that increased food supply then progressed to textile inventions like the spinning jenny and power looms followed by steam power and iron production and later the expansion of railroads that transformed transport and trade

Effects of the Industrial Revolution SPICE

Social urbanization overcrowded cities and labor exploitation Political new labor reform movements and competing ideologies Interaction with environment pollution and resource extraction Cultural new class identities and political ideas like socialism Economic mass production capitalist markets and global trade expansion

Reforms in response to the Industrial Revolution

Government and social reforms included laws limiting child labor regulations for safer factories shorter workdays expanded public education and the rise of labor unions

Compare industrialization in Japan and Egypt

Japan industrialized rapidly during the Meiji Restoration through state led modernization and heavy investment while Egypt faced foreign influence limited capital and struggled to build a broad industrial base