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Ind. Rev. Ch. 19
Term | Definition |
---|---|
Anesthetic | Drug that prevents pain during surgery. |
Enclosure | Process of taking over and consolidating land formerly shared by peasant farmers. |
James Watt | Scottish engineer-looked at Newcomen's invention in 1764 to make improvements on the engine. |
Smelt | Separates iron from its ore. |
Capital | Money used to invest in enterprises. |
Enterprise | Business organization in an area such as factories, mining, railroads, and shipping. |
Entrepreneurs | Managed and assumed the financial risks of starting new business. |
Putting Out System | Raw cotton was distributed to peasant families who spun it into thread and then wore the thread into cloth in their own homes. |
Eli Whitney | Invented the cotton gin, separates the seeds from raw cotton at a fast rate. |
Turnpikes | Private roads built by entrepreneurs who charged travelers a fee to use them. |
Tenements | Multistory buildings divided into apartments. |
Labor Unions | Workers organizations. |
Thomas Malthus | British economist-saw the effects of the population explosion. |
Utilitarianism | Idea that the goal of society should be the "greatest happiness for the greatest number" of its citizens. |
Jeremy Bentham | British philosopher-advocated utilitarianism. |
Means of Production | The farms, factories, railways, and other large businesses that produced and distributed goods. |
Robert Owen | Set up a model community in New Lanark, Scotland to put his own ideas into practice. |
Karl Marx | German philosopher-condemned the ideas of Utopians as unrealistic idealism. |
Communism | System in which governments led by a small elite controlled all economic and political life. |
Proletariat | Working class. |
Social Democracy | Political ideology in which there is a gradual transition from capitalism to socialism instead of a violent overthrow. |