The Industrial Revolution

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The Industrial Revolution
The Industrial Revolution
What is it?
►Major
change in the way goods
are produced in the late 18th
century through the 19th
century.
 Machine production replaces
hand production.
► Where
Origins
does it begin?
 Great Britain
► Why
does it begin in Britain?
 Natural resources (including large labor supply)
►Colonies
 Economic prosperity
►Capital (Investment)
 Entrepreneurs (willing to take risks – profit motive)
 Stable Government
 Strong Navy
►Protect
trade
Impact of Agricultural Revolution
► Helps
spur Industrial Revolution (actually works
both ways)
 Ind. Rev also helps Ag. Rev by providing new
machinery to help grow crops more efficiently
 How does Ag. Rev lead to Ind. Rev?
►New
farming methods (Crop Rotation) = increased
population (labor source)
►Enclosure movement
 forced small farmers out
► Where do they go?
-Urban centers (cities) where factories (large buildings
where goods are manufactured – mass produced) are
located
-Leads to Urbanization
-People migrating to city areas in mass numbers
Short Term Effects of
Urbanization and Industrialization
► Some
cities become overcrowded, unsanitary, and
dangerous places to live (especially early on)
 Cholera epidemics widespread
 Life expectancy could sometimes be low (esp. early in
Industrial Revolution)
► Working
conditions could sometimes be difficult
for factory workers
**However, life expectancy and standard of living
generally increase overall in industrialized nations
► Middle class grows and prospers
► Tension develops between labor and management
 Human nature???
Short Term Effects Cont.
► Industrialism
spreads to nations and areas
with the same favorable conditions as
Britain (U.S.)
 War of 1812 (blockade) = greater
economic independence in U.S.
►New
Business Techniques
 Corporations
►A
business owned by stockholders who
share in the profits but are not
responsible for company’s debt. (Helps
fund larger operations - expansion)
Long Term Effects
►Reform
 Rise of the labor movement (Unions)
►Workers
unite to help solve problems associated with
early industrialism (poor working conditions,
blacklists, etc...)
 Abolition of slavery
►Slavery not compatible with industrialism
►Industrial nations among the first to outlaw
slavery
 Women’s rights
►Ex ... Suffrage movements?
 Right to vote
 Education (Accessible for more people)
►Need
for educated work force (problem solving skills)
Long Term Effects Cont.
►Imperialism
 Seizure of a country or territory by a
stronger country in order to secure
resources
 Industrialized nations (Britain, France,
U.S. and later Japan, Germany, Russia,
and others) establish colonial empires
►New Economic Theories
 Laissez-Faire (Capitalism), Socialism,
Communism, etc...
Laissez-Faire Capitalism
►Economic
system based on private
ownership of property
 Government stays out of the business sector
“let do”
►Adam
Smith
 Wealth of Nations
►“Invisible
Hand” competition/selfinterest will guide resources most
productive use.
Socialism
►Redistribution
of wealth by
government; government owns or
controls the means of production
 Still some private ownership of
small businesses by individuals
on a limited basis
 Supposed to answers “evils” of
capitalism
Marxism (Communism)
► Final
stage of socialism; (Socialism on
steroids!!!) elimination of social classes;
replace competition with cooperation
(Utopia?)
► Karl Marx and Friedrich Engels
 History advances through conflict
 Economics were the major force of
change
 “Class struggle”
►Proletariat (Workers) v. Bourgeoisie
(Middle Class)
Modern Terms
►Market Economy (Free-Market)
 Ruled by supply and demand; individuals
own property and make decisions that
drive the economy
►Command
Economy
 Government makes most or all of the economic
decisions (Socialism, Communism)
►Mixed Economy
 Contains elements of both market and
command.
Examples (No need to write these)
1.
2.
3.
4.
5.
Jeans produced because people buy them.
Jeans are produced because the government decides
to produce them to meet the needs and wants of
citizens.
An individual owns a grocery store; she decides what
to stock in the store and pays her workers the lowest
wages for which they will work.
An individual manages a grocery store for the
government; government decides what items will be
stocked and sets the wage rate for workers.
An individual owns a grocery store; he decides what
to stock in the store and pays his workers a minimum
wage set by the government.
►What
Questions
are the disadvantages to an
individual in each of the three systems?
►Which
one do you think connects best
with the Enlightenment? Why?

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