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Flashcards in Industrial Revolution Deck (43):
1

Agricultural Revolution

the increase of food supply lead to a giant increase of population in Britain.

2

Enclosure Acts

when big land owners in parliament voted to take away public land and common farming lands to make them their own

3

crop rotation

the system of growing a different crop in a field each year to preserve the fetility of the land

4

factors of production

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

5

industrialization

the development of industries for the machine production of goods

6

factory

a large building in which machinery is used to manufacture goods

7

entrepreneur

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

8

urbanization

the growth and building of cities and the migration of people into them

9

middle class

social class made up of skilled workers, professionals, businesspeople, and wealthy farmers

10

stock

certain rights of ownership

11

corporation

a business owned by stockholders who share in its profits but are not personally responsible for its debts

12

Crystal Palace

huge glass iron structure built at request of Queen Victoria and her husband where countries came together to display their advances in technology.

13

Wealth of Nations

Book written by Adam Smith about laissez faire

14

Jeremy Bentham

founder of Utilitarianism

15

laissez faire

no government interventions in economics

16

Adam Smith

professor, defended the idea of a free economy, or free markets.
Book: The Wealth of Nations about laissez faire
He was a big part of capitalism.

17

capitalism

an economic system in which the factors if production are privately owned and money is invested in business ventures to make a profit

18

utilitarianism

the theory, proposed by Jeremy Bentham in the late 1700s, that the government actions are useful only if they promote the greatest good for the greatest number of people

19

socialism

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

20

Karl Marx

founder of Communism

21

communism

an economic system in which all means of production–land mines, factories, railroads, and businesses–are owned by the people, private property does not exist, and all goods and services are shared equally.

22

union

an association of workers, formed to bargain for better working conditions and higher wages.

23

strike

to refuse work in order to force an employer to meet certain demands

24

Thomas Malthus

Book: Essay on the Principle of Population.
Population increases more rapidly than the food supply without wars, famine, and disease.

25

David Ricardo

Book: Principles of Political Economy and Taxation.
He believed that a permanent underclass would always be poor. Wages would be forced down as population increased

26

John Stuart Mill

Lead the utilitarian movement in the 1800s. Called for government to do away with great differences in wealth. Wished to help ordinary people with policies that would lead to a more equal division of profits.
Favored a cooperative system of agriculture and woman's rights.

27

3 natural laws of economics

the law of self interest
the law of competition
the law of supply and demand

28

Chartist movement

19th century Britain, members if the working class demanded reforms in parliament and in elections, including suffrage for all men, rights to strike, and improved labor conditions.

29

suffrage

the right to vote

30

Queen Victoria

During her reign Britain reached the height of its wealth and power.

31

Third Republic

the republic that was established in France after the downfall of Napoleon III and ended with the German occupation of France during WWII.

32

anti-Semitism

prejudice against Jews

33

Dreyfus Affair

When a Colonel in the French military was blamed for espionage and was sent to Devil's Island for punishment.

34

Luddites

a group of people who smashed the machines in factories because they believed that the machines were taking their jobs

35

Irish Republican Army

an unofficial nationalists military force seeking independence for Ireland from Great Britain

36

assembly line

in a factory, an arrangement in which a product is moved from worker to worker, with each person performing a single task in its manufacture.

37

Charles Darwin

Developed a theory that all forms of life evolved from earlier living forms that had existed millions of years ago. (Theory of evolution)

38

theory of evolution

the idea, proposed by Charles Darwin, that species of plants and animals arise by means of a process of natural selection

39

Radioactivity

a form of energy released as atoms decay

40

psychology

the study of the human mind and human behavior

41

mass culture

the appeal of art, writing, music; and other forms of entertainment to a larger audience

42

Communist Manifesto

book written by Karl Marx

43

Why did the Industrial revolution start in England?

- new ways of transportation
- agricultural revolution
- natural resources
- increase in pop (greater labor supply)
- stable political situation (urbanization)
- a lot of wealth to invest