AGRICULTURAL REVOLUTION
EXPANSION OF FARMLAND, GOOD WEATHER, IMPROVED TRANSPORTATION, AND NEW CROPS, INCLUDING THE POTATO CAUSED A GREATER FOOD SUPPLY WHICH FED MORE PEOPLE WITH LESS LABOR INVOLVED
LABOR
WORK PERFORMED BY PEOPLE THAT PROVIDES THE GOODS AND SERVICES IN AN ECONOMY
ENCLOSURE ACTS
laws enacted in the 18th century which allow land owners to fence off common lands and forced many peasants to move to towns creating a labor supply for factories
CAPITAL
money available for investment
ENTREPRENEURS
a person who finds new business opportunities and new ways to make profits
NATURAL RESOURCES
materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain
SUPPLY MARKETS
areas Britain used to sell goods produced in its factories
SPINNERS
people who make cotton thread from raw cotton to use to weave cloth
WEAVERS
people who weave cotton thread into cloth on looms
COTTON
the raw material from the cotton plant that is used to produce cotton cloth, it was widely grown in the south of the U.S.
JAMES HARGREAVES
in 1764, he invented a machine that made the spinning process faster it was called the spinning jenny, spinners could now produce thread faster than weavers could use it
EDMUND CARTWRITGHT
invented a water-powered loom that allowed weaving to catch up with the spinning process, now workers were brought to these new machines near rivers and streams that powered the looms 1787
JAMES WATT
a Scottish engineer who in 1782 he invented a steam engine that could drive the machines that produced cotton cloth, spinning and weaving became much faster, now factories did not need to be by water because coal was used to produce steam
COTTAGE INDUSTRY
a method of production in which tasks are done by individuals in their rural homes
FACTORIES
a building or group of buildings where goods are manufactured or assembled chiefly by machines
CHILD LABOR
the use of young children to work in factories at a very early age some as young as six, they were beaten and mistreated
PUDDLING
the process in which coke derived from coal is used to burn away impurities in crude iron to produce high quality iron
DERIVED
obtained from; came from
STEAM ENGINE
a type of engine that burns usually coal to heat water to produce steam to power an engine
RICHARD TREVITHICK
built the first steam locomotive in 1804, it ran on an industrial rail line in Britain, it moved at 8.05 kilometers per hour
ROCKET
the first steam engine to be used on a public railway system, in 1830 the rail line was 32 miles long and extended from the cotton-manufacturing town of Manchester to the seaport of Liverpool
CLERMONT
Robert Fulton built the first paddle-wheel steamboat in 1807 which made transportation on rivers in the U.S. easier
ELI WHITNEY
American inventor of the cotton gin which allowed the seeds to be quickly removed from cotton, it revolutionized cotton cloth production in the 1790's
IRISH POTATO FAMINE
between 1845-1849 there was a mass emigration of Irish people due to the Great Hunger caused by a blight on the potato crop that caused the plants to produce no potatoes which were a staple in the Irish diet
COMMERCIAL CAPITALISM-
trade shifted from localized trade to regional and overseas trade
INDUSTRIAL CAPITALISM
an economic system based on industrial production or manufacturing
INDUSTRIAL REVOLUTION
a period of industrialization that took place during the late 1700's and early 1800's, it was a period of mechanization of agriculture and textile manufacturing and a revolution in power including steamships and railroads and effected social, cultural, an
FACTORY ACT OF 1883
this act set the minimum age as nine to work in factories and limited hours for older children, the number of child laborers declined after this act
SOCIALISM
a system in which society, usually in the form of the government owns and controls the means of
KARL MARX
founder of modern communism who wrote the Communist Manifesto with Engels in 1848, he was a German economist, philosopher, socialist who also wrote Das Kapital in 1867
ROBERT OWEN
a British cotton manufacturer and Utopian Socialist, who believed that humans would show their natural goodness if they lived in a cooperative environment, he turned the squalid factory town of New Lanark, Scotland into a flourishing community
NEW HARMONY
created by Robert Owen to be like New Lanark in Scotland this one in Indiana in the United States was a failure
OTTO VON BISMARCK
responding to the socialist movement the chancellor of Germany created old age pensions, accident insurance, medical care, and unemployment insurance
FACTORS OF PRODUCTION
include land, labor, capital, and entrepreneurs