Industrial Revolution

WARM UP – November 10 Grab the guided notes and answer these review questions on a post it: 1. What was Napoleon’s biggest strength? Why did so many people in France hail him as a hero? 2. What was Napoleon’s three biggest mistakes that would contribute to his downfall? 3. What was Napoleon’s second term as emperor called? What happened during this second term?

Definition *Shift from making goods by hand to using machines *Began in England in mid-1700’s *Soon spread to Western Europe & USA

Why it Happened *New Inventions *Factories to mass-produce goods *Steamboats & railroads to distribute

Economic Effects *Creation of corporations *Growth of middle class *Businesses that sell stock - shares of ownership *Similar to joint-stock companies *Growth of middle class *Western Europe & America become richer than other nations

Social Effects *Urbanization - growth of cities *Crowded, dangerous and unsanitary

Political Effects *debate over which economic system is best *Capitalism vs. socialism/communism

Capitalism *Property is privately owned *Businesses compete for customers *People invest to get profit

Capitalism *Explained in Adam Smith’s book The Wealth of Nations *People work for their own good *Competition makes better products

Socialism *Some property is owned by government *Government plans economy, provides services *Operates for everyone’s benefit

Communism *Property owned collectively *Articulated by Karl Marx *Wrote The Communist Manifesto *Predicted workers would revolt, produce goods cooperatively, share them equally

Industrial Reform Movement *Responded to negative aspects of industrialization *Workers formed unions *Group of workers who advocate for themselves *Use collective bargaining, strikes *Helped get minimum wage, ban child labor, limit hours

Industrial Reform Movement *Movement spread, pushed for: *Free public schools *Abolition of slavery *Women's suffrage, equal pay