Terms & People

1. Terms enclosure crop rotation industrial Rev. industrialization urbanization 3 factors of production reform movements corporation stock entrepreneur union collective bargaining laissez-faire economics free market economics Capitalism Utilitariansim socialism communism People Adam Smith Karl Marx William Wilberforce Horace Mann Terms & People

2. Section 1 Industrial Revolution- change from man made to machine made goods • Agricultural Revolution – enclosures and increased food supply • Fewer farmers were needed ( they become the labor force for the factories)

3. Natural Resources- England had : coal and water power for their machines, iron ore to make machines and tools, rivers for transportation, and harbors for worldwide trade

4. Railroads provided cheap and fast transportation of goods and materials

5. Section 2 • Urbanization – growth of cities • Caused overcrowding (more people than houses)

6. New Middle Class was created- skilled workers, overseers, bankers, etc. • Upper Class resented the middle class

7. Section 3Industrial Revolution spreads • Industrialization led to an overuse of natural resources • The need arose to get resources from other places (imperialism) • Inequality between industrialized and non industrialized countries

8. Section 4 • Capitalism- free market system • Adam Smith in “Wealth of Nations” • Laissez-faire – Government keeps “hands off” economy

9. Socialism • government controls major means of production and distribution

10. Communism • Theory – The people collectively control all means of production and distribution • Reality - Government controls all means of production and distribution • Karl Marx “Communist Manifesto”

11. Reforms • Education – Horace Mann • Women’s Rights – • Abolition – William Wilberforce • Child Labor Laws • Labor Unions – protect the rights of workers