Industrial Revolution Flashcards Preview

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Flashcards in Industrial Revolution Deck (18):
1

Assembly line -

Process of work where each person does one simple thing and altogether each steps creates and item
Note: workers don't have to have a specialized skill

2

Flying shuttle -

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3

Factors of production -

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4

Child labor

In the 1700s to 1938, children went to work extremely little under terrible conditions

5

Positives of industrialization -

- cities grow
- cheaper clothes
- better food/diet
- better standard of living
- creates middle class

6

Negative of industrialization -

- crowded
- working conditions
- environment
- used a lot of natural resources
- disease/ illness

7

Unions -

Voluntary Organization of workers

8

Strike -

When employees refuse to work

9

Collective bargaining

Negotiation between employers and employees. When, if the workers refuse claims, can lead to strike

10

Factory life -

Were long days under bad conditions

11

Karl Marx -

Writer, created of Marxism and "The Communist Manifesto" which created Communism

12

Communist Manifesto

Work of writing by Karl Marx, proposing communism, an economic system where the Bourgeoisie (wealthy) & proletariat (workers) are equal.

13

Utilitarianism -

Greatest good for the greatest number of people.

14

Communism -

Complete socialism on which the means of production is owned by the people and everyone has equal rights

15

Socialism -

A economic system where the government controls the trade, ect.

16

Laissez Faire -

"Let do" in French, Economic policy of letting owners of industry and business set working conditions with out interference

17

Capitalism -

System in which money is invested in business ventures with the goal of profit

18

Adam smith

Man who laid foundations for free trade/market (capitalism) & wrote the book: " Wealth of Nation"