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Industrial Rev


Industrial Revolution Series of innovations in agriculture and industry that led to dramatic economic and social changes in Europe and the US
Conditions needed for industrial Revolution to occur Science, incentive, and money to build machines, Labor force, Raw materials, markets and efficient farms to feed the people
Enclosure movement Rich landowners fenced off common land used by peasant farmers
Effects of enclosure More efficient farms, greater food production, more profits since fewer workers needed, jobless farmers moved to cities for work
Causes of population growth fewer die from famine, eat better so are healthier, better hygiene and sanitation improved medical care
Earliest factories rely on water had to be located by rivers
Energy Revolution coal becomes vital power source (coal mining=dangerous; black lung)
Capital money used to invest in an enterprise
Enterprise business organization such as shipping, mining, RR, or factories
Entrepreneur manages and assumed financial risks of starting new business
Interdependence mutual dependence of countries on goods, resources, labor and knowledge from other parts of the world
interchangeable parts identical components that can be used in place of on another in manufacturing
smelt process of separating iron from its ore
Laissez faire Hands off by government
Free Market some government involvement
Socialism Some government involvement, ownership of Big Business, some private, Government provides healthcare, childcare, senior citizen care and unemployment pay
Urbanization movement of people to cities
tenements multistory buildings divided into apartments, crowed, unsanitary, poor conditions for industrial working class
labor unions workers organization, (not legal at the time, some met in secret unions
Utilitarianism idea that the goal of society should be "the greatest happiness for the greatest number" of citizens
Command Economy system in which government officials make all basic economic decisions
Communism Total government control (Karl Marx)
Globalization the process by which national economies, politics, cultures, and societies become integrated with those of other nations around world
Created by: mccormickj
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