Industrial Revolution Flashcards
(45 cards)
What were the years of the Industrial Revolution?
1700s to 1800s.
What was the Industrial Revolution?
A period of time when important changes occurred in agriculture, manufacturing, and transportation in Europe and America from the mid 1700s to the mid 1800s; led to economic and social change.
Where did the Industrial Revolution begin in?
Britain.
Why did the Industrial Revolution begin in Britain?
The Industrial Revolution began in Britain because they had land, labor, and capital (wealth).
Industrial Revolution begins in Britain: Land
An abundance of natural resources. (Raw materials, items that occur naturally in nature.):
~rivers for water power and transportation.
~coal to fuel the new machines.
~iron to build machines, tools, and buildings.
-colonies: Britain used their colonies to get raw materials and as a place to sell their products (based on the theory of mercantilism).
Industrial Revolution begins in Britain: Labor
-Agricultural Revolution (less labor could produce more).
~enclose movement: wealthy landowners began to “enclose” their land with fences and forced smaller farmers off their land.
-wealthy landowners experimented with new farming techniques that increased crop yields (crop rotation: growing a new crop in a field each year to restore nutrients and increased output).
-landless farmers moved to cities to work in the new factories.
-large population: increase in population provides a workforce to the factories.
Industrial Revolution begins in Britain: Capital (Money)
- Highly developed banking system: loans available, investment opportunities.
- Political stability: no wars fought in their country.
What are canals?
Human-made waterways to use the steamboat on, decreased cost of transporting goods.
What are better paved roads?
Some inventors build roads and then installed turnpikes to pay a toll before traveling any further.
What did canals and better paved roads lead to?
It led to better transportation.
What transportation changed life in Britain?
Railroads changed life in Britain.
How did the new transportation, railroads, change life in Britain?
- Increased industrial growth by giving manufacturers a cheaper way to transport goods.
- Made travel easier so people could travel for work or leisure.
- Faster and cheaper.
What happened to the industrialization in America?
-Britain did not allow engineers, mechanics, and toolmakers to leave the country so they could keep the secrets of industrialization to themselves but in 1789, Samuel Slater immigrated to the United States and introduced the factory system to America.
-Lowell Mills: thousands of young single farm girls went to work as mill girls in Lowell, Massachusetts.
~built a canal
~way to earn higher wages for themselves and their family and for a little independence (still watched over at work by their employees).
-Lowell Mill Girls:
~lived in boarding houses with other workers that were monitored by the company, an older woman was in charge to ensure that girls followed the rules (no male visitors, no staying out past 10PM).
~worked more than 12 hours a day for 6 days a week.
-many new inventions: electric lightbulb and the telephone.
-new urban population: bought goods, worked in factories.
-railroads. *mostly in the north: UK & Prussia.
-As companies get larger, business owners sold stock (rights of ownership to part of a company) to raise money. People who own stock became part owners of that company.
~A company that is owned by stockholders is called a corporation. They share the profits but are not personally responsible for its debts.
-Owners and stockholders made high profits while workers earned low wages.
What were the many new inventions during the Industrial Revolution?
Electric Lightbulb.
Telephone.
How did the new urban population affect the Industrial Revolution?
Bought goods.
Worked in factories.
What happened as companies get larger during the Industrial Revolution?
The business owners sold stock (rights of ownership to part of a company) to raise money. People who own stock became part owners of that company.
What is it called when a company is owned by stockholders?
A company that is owned by stockholders is called a corporation. They share the profits but are not personally responsible for its debts.
What were the differences between the owners, stockholders, and workers in corporation?
Owners and stockholders made high profits while workers earned low wages.
What happened when the Continental Europe Industrializes?
- Belgium: led Europe in adapting Britain’s new technology.
- Germany: began copying the British around 1835 by importing British equipment and engineers, sent their children, to England to learn about industrial management, used railroads to become an industrial and military power.
What was the impact of Industrialization?
-Shifted the global balance of power: increased competition between industrialized nations.
-Transformed society in the United States and Western Europe: France, Germany, UK, Prussia.
-Rise of global inequality: widened the wealth gap between industrialized and nonindustrialized nations: used nonindustrialized nations to get raw materials and as a market to sell their supplies.
~led to imperialism: a stronger country takes over other countries politically, economically and/or society.
What does laissez faire mean?
“Let the people do as they please”, free market (economy policies made by industry and business owners) should be unregulated by the government.
~happened in early Industrialization.
~can be good or bad.
~child abuse.
What is capitalism?
Economic system in which businesses are privately owned.
Who is Adam Smith?
Wrote ‘The Wealth of Nations (1776)’: economic liberty guaranteed economic progress.
~believes in laissez faire and capitalism.
Who is Thomas Malthus?
Wrote ‘An Essay on the Principle of Population (1789)’: population was going to increase faster than the food supply and without wars and diseases to kill off the extra people, most people were destined to be poor and miserable.
