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Ind. Rev. Ch. 19

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.
Created by: athensarcher