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Junko Industrial Rev

TermDefinition
Enclosure The system in which wealthy landowners purchased large parcels of land and surrounded the area with hedges or fences
James Watt He perfected the steam engine which provided an new source of power and allowed factories to be built in urban areas
Middle Class The Industrial Revolution in England helped to increase the size of this social class
Urbanization The increase size and population of cities
Factory Acts These laws passed in England helped to limit the hours that children could work in the factories and mines
Crop Rotation Farmers discovered that certain vegetables work well together to recharge the soil
Textiles The industry was the first to become industrialized in England
Karl Marx The father of Communism that wrote the Communist Manifesto
Adam Smith The modern day Capitalist that wrote the book Wealth of Nations
Cottage Industry Early agricultural economic system by which men would farm and women would make goods for the marketplace
Bourgeoisie Factory owning middle class as described by Karl Marx
Proletariat The working class that formed to overthrow the Bourgeoisie
Law of Self Interest Individuals and businesses work for the good of themselves and not for the good of others
Law of Competition Law that states quality will be high and prices would be low
Capitalism The free market economic system that Adam Smith advocated
Communism System of shared equality put forward by Karl Marx
Laissez Faire The idea that governments should not regulate businesses
Created by: mjunko1