Ch.9 The Industrial Revolution

Front 1

the shift, beginning in England during the 18th century, from making goods by hand to making them by machine

Back 1

Industrial Revolution

Front 2

one of the fenced-in or hedged-in fields created by wealthy British landowners on land that was formally worked by village farmers

Back 2

enclosure

Front 3

the system of growing a different crop in a field each year to preserve the fertility of the land

Back 3

crop rotation

Front 4

the development of industries for the machine production of goods

Back 4

Industrialization

Front 5

the resources-including land, labor and capital-that are needed to produce goods and services

Back 5

factors of production

Front 6

a large builing in which machinery is used to manufacture goods

Back 6

factory

Front 7

a person who organizes, manages, and takes on the risks of a business

Back 7

entrepreneur

Front 8

the growth of cities and the migration of people into them

Back 8

urbanization

Front 9

a social class made up of skilled workers, professionals, business people, and wealthy farmers

Back 9

middle class

Front 10

rights of ownership sold by entrepreneurs to raise money for corporations

Back 10

stock

Front 11

business owned by stockholders who share in its profits, but are not personally responsible for its debts

Back 11

corporation

Front 12

the idea that the government should not interfere with or regulate industries and businesses

Back 12

laissez faire

Front 13

author of The Wealth of Nations that defended the idea of a free economy; he said that economic liberty guaranteed economic progress, and claimed that government need not interfere in the economy

Back 13

adam smith

Front 14

an economic system based on private ownership and on the investment of money in business ventures in order to make a profit

Back 14

capitalism

Front 15

the theory, proposed by Jeremy Bentham in the late 1700s, that government actions are useful only if they promote the greatest good for the greatest number of people

Back 15

utilitarianism

Front 16

an economic system in which the factors of prodution are owned by the public and operate for the welfare of all

Back 16

socialism

Front 17

author of the Communist Manifesto with Friedrich Engels; he beleived the capitalist system, which produced the Industrial Revolution would eventually destroy itself; he theorized that factories would drive small artisans out of business, leaving a small number of manufacturers to control all of the wealth; the large proletariat(workers) would revolt, seize the factories and mills from the capitalists, and produce what society needed; the workers would control the government in a "dictatorship of the proletariat" causing the state to wither away as a classless society developed

Back 17

Karl Marx

Front 18

an economic system in which all means of production-lands, mines, factories, railroads, and businesses-are owned by the people, private property does not exist, and all goods and services are shared equally

Back 18

communism

Front 19

an association of workers, formed to bargin for better working conditions and higher wages

Back 19

union

Front 20

negotiations between workers and their employers

Back 20

collective bargaining

Front 21

to refuse to work in order to force an employer to meet certain demands

Back 21

strike