Key Terms 10.3

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Industrialism

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A social or economic system built on manufacturing industries.

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Capitalism

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An economic system in which investment in and ownership
of the production & distribution of wealth is made and maintained chiefly by private individuals or corporations.

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Utopianism

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the political orientation of a Utopian who believes in impossibly idealistic schemes of social perfection.

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Socialism

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A political and economic theory of that advocates that the means of production, distribution, and exchange should be owned or regulated.

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Communism

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A political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned.

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James Watt

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Scottish inventor and mechanical engineer whose improvements to the Newcomen steam engine were fundamental to the changes brought by the Industrial Revolution in both his native Great Britain and the rest of the world.

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Eli Whitney

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Eli Whitney was an American inventor best known for inventing the cotton gin. (This was one of the key inventions of the Industrial Revolution and shaped the economy of the Antebellum South)

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Bessemer

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Sir Henry (1813–98), who was a English inventor. By 1860 he had developed the "Bessemer Process", the first successful method of making steel form molten pig iron.

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Pasteur

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Louis (1822–95), French chemist and bacteriologist. He introduced pasteurization and pioneered vaccination techniques.

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Edison

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Thomas Alva Edison was an American inventor and businessman. He developed many devices that greatly influenced life around the world, including the phonograph, the motion picture camera, and a the electric light bulb.

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Labor

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Hard physical work

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Capital

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Financial capital is money used by entrepreneurs and businesses to buy what they need to make their products or provide their services.

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Union Movement

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The term labor movement''' is a broad term for the development of a collective organization of working people.

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Charles Dickens

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Charles John Huffam Dickens was an English writer and social critic. He created some of the world's most memorable fictional characters and is generally regarded as the greatest novelist of the Victorian period.

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William Blake

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William Blake was an English poet, painter, and print-maker. Largely unrecognized during his lifetime, Blake is now considered a seminal figure in the history of the poetry and visual arts of the Romantic Age.