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40 Cards in this Set

  • Front
  • Back
era when the use of power-driven machines was developed in Great Britain
Industrial Revolution
farmer who invented the seed drill as a new agricultural method
Jethro Tull
movement when landowners combined the small fields to create large farms with fences holding animals such as sheep
enclosure movement
the essential elements that a nation needs to achieve success; land, labor, and capital
factors of production
domestic system where a craft occupation is performed at home (ex. weaving)
cottage industry
the process of changing to power driven machines
industrialization
made pulling seeds less time consuming by inventing the cotton gin
Eli Whitney
invented the spinning jenny, which spun several threads at once during the spinning process because there was too much cotton, not enough thread
James Hargreaves
made thread thinner and stronger with the spinning frame; also built factories to hold the water frame
Richard Arkwright
invented the flying shuttle, which doubled the speed at which a weaver could do the job; attacked and fled to france
John Kay
invented a larger, faster weaving system called power loom in 1785 made by rivers, but the problem is that they cant work in the winter or summer
Edmund Cartwright
a building that housed industrial machines
factory
invented a faster and more efficient steam engine for power and transportation
James Watt
used a steam locomotive to transport goods in 1802
Richard Trevithick
developed a steam ship called "The Clermont" that first ran on the hudson river in new york; his business was the first profitable use of steam navigation
Robert Fulton
report written in 1791 by Alexander Hamilton arguing that industrialization would help the U.S. gain economic independence from Great Britain
Report of Manufactures
came to the US disguised as a farmer in 1789 to make Arkwright machinery at mills and bring textile technology to the US; aka "Father of American Industry"
Samuel Slater
founder of a mill that used a waterfall to run machinery; made canals (models for modern industry) and made the first mill that took cotton through processes to make cloth
Francis Cabot Lowell
founded a textile factory in Belgium, bringing industry to europe
William Cockerill
funds for investment in business
capital
group led by General Ned Ludd that opposed machines that were hurtful to the commonality that put them out of work, movement of burning factories and smashing machines
Luddites
organizations representing workers' interests, used strikes
labor unions
work stoppages used by labor unions
strikes
report by hearings in Parliament in 1832 that described abuses in factories
Sadler Report
system of manufacturing large numbers of identical items
mass production
identical machine parts that were used to make production and repair of goods easier (ex. guns)
interchangeable parts
element of mass production by Henry Ford, where a product moves from worker to worker, as each one performs a step in the manufacturing process
assembly line
economics by Adam Smith saying gov. shouldn't interfere with business
laissez-faire
wrote the "Wreath of Nations" to promote laissez-faire economics, also wanted a market economy
Adam Smith
concerned about population growth caused by development of industry, saying population would always grow faster than food production
Thomas Malthus
someone who starts a business, ex. financiers, bankers and investors who used money to start large corporations
entrepreneur
led the expansion of steel industry in America
Andrew Carnegie
wrote the Iron Law of Wages, saying population would grow faster so there would be no jobs, leading to starvation
David Ricardo
negative word used to describe entrepreneurs like Andrew Carnegie that took advantage of their workers
robber barons
believed in socialism and built a mill in Scotland, founded a community in America that was a utopia
Robert Owen
theory by Robert Owen saying society or government, instead of individuals, should own property and control industry
socialism
thought that when capital grew, workers would sink into property, rebel and control means of production, collapse socialism (communist manifesto)
Frederich Engels and Karl Marx
1st volume written by Karl Marx against capitalism, saying that it disrupts the relationship between labor and profit, wanted socialism and communism
"Das Kapital"
system in which gov. owns almost all the means of production and controls economic planning
communism
level of material comfort, quality of life
standard for living