UNIT 8 Chapter 25 – The Industrial Revolution

1. UNIT 8Chapter 25 – The Industrial Revolution THE INDUSTRIAL REVOLUTION

2. CHAPTER 23 The Industrial Revolution, 1700–1900 The Industrial Revolution begins in Britain, spreads to other countries, and has a strong impact on economics, politics, and society. The Beginnings of Industrialization SECTION 1 SECTION 2 CASE STUDY: Industrialization Industrialization Spreads SECTION 3 Reforming the Industrial World SECTION 4 Rail locomotives began connecting U.S. cities in the 1840s, enabling transport of goods between factories, cities, and ports.

3. OBJECTIVES • CORE OBJECTIVE:Trace key events of the Industrial Revolution and analyze how these affected economics and politics. • Objective 8.1: Explain the beginnings of the British Industrial revolution and the inventions the furthered it. • Objective 8.2: Identify the social and economic effects of industrialization. • Objective 8.3: Identify the effects of industrialization on the rest of the world. • Objective 8.4: Explain the origins and main concepts of socialism, Marxism, and other 1800s reform movements.

4. Chapter 25 SECTION 4 1800s reform The Industrial Revolution leads to economic, social, and political reforms.

5. INDUSTRIALIZATION PHILOSOPHERS • Laissez-faire Economics • Laissez faire — economic policy of not interfering with businesses • Originates with Enlightenment economic philosophers • Adam Smith — defender of free markets (capitalism) • author of The Wealth of Nations • Believes economic liberty guarantees economic progress • Economic natural laws — self-interest, competition, supply and demand are good (capitalism!) WRITE THIS DOWN!

6. THE ECONOMISTS OF CAPITALISM • Thomas Malthus, David Ricardo boost laissez-faire capitalism • Capitalism — system of privately owned businesses seeking profits • Individuals run business for themselves to gain profit • This profit will benefit the nation; govt. should not interfere • Malthus thinks populations grow faster than food supply • Wars, epidemics kill off extra people or misery and poverty result • Ricardo envisions a permanent, poor underclass providing cheap labor WRITE THIS DOWN!

7. THE RISE OF SOCIALISM • Utilitarianism • Jeremy Bentham’s utilitarianism — judge things by their usefulness • John Stuart Mill favors regulation to help workers, spread wealth • Socialism • Socialism — factors of production owned by, operated for the people • Government operates large business for benefit of people • Socialists think government control can end poverty, bring equality • Socialism differences from Communism • This is an economic belief only • Private property is still allowed, govt controls larger businesses • Individual freedoms and political differences are usually allowed WRITE THIS DOWN!

8. MARXISM = RADICAL SOCIALISM WRITE THIS DOWN! • Marxism’s Prophets • Karl Marx — German journalist proposes a radical socialism, Marxism • Friedrich Engels — German whose father owns a Manchester textile mill • The Communist Manifesto • Marx and Engels believe society is divided into warring classes • Capitalism helps “haves,” the employers known as the bourgeoisie • Hurts “have-nots,” the workers known as the proletariat • Marx, Engels predict the workers will overthrow the owners • The Future According to Marx • Marx believes that capitalism will eventually destroy itself • Inequality would cause workers to revolt, seize factories and mills • Communism — society where people own, share the means of production • Predicted a classless society • Under Communism – single govt party has complete control; limited individual rights; no private property

9. LABOR UNIONS • Unionization • Unions — associations formed by laborers to work for change • Unions negotiate for better pay, conditions with employers • Sometimes they strike — call a work stoppage—to pressure owners • Skilled workers are first to form unions • Movement in Britain, U.S. must fight for right to form unions • Union goals were higher wages, shorter hours, improved conditions WRITE THIS DOWN!

10. Origins of the French Revolution—Assessment Which of these is NOT a natural resource Britain had for Industrialization? (A) Iron (B) Rivers (C) Capital (D) Coal Which of these is Not a factor of production? (A) Harbors (B) Land (C) Labor (D) Capital

11. Origins of the French Revolution—Assessment Which of these is NOT a natural resource Britain had for Industrialization? (A) Iron (B) Rivers (C) Capital (D) Coal Which of these is Not a factor of production? (A) Harbors (B) Land (C) Labor (D) Capital

12. Vocabulary Assessment Urbanization is the (A) Process of work in a society being done by machines (B) Immigration from one country to another (C) Business growth through new inventions (D) Movement of people to cities An economic system in which all means of production are owned by the people. Private property does not exist and goods are shared equally. (A) Capitalism (B) Communism (C) Socialism (D) Feudalism

13. Vocabulary Assessment Urbanization is the (A) Process of work in a society being done by machines (B) Immigration from one country to another (C) Business growth through new inventions (D) Movement of people to cities An economic system in which all means of production are owned by the workers. Private property does not exist and goods are shared equally. (A) Capitalism (B) Communism (C) Socialism (D) Feudalism

14. CRASH COURSE • CAPITALISM & SOCIALISM • https://www.youtube.com/watch?v=B3u4EFTwprM&index=34&list=PLBDA2E52FB1EF80C9