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Junko Industrial Rev
Term | Definition |
---|---|
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 |