Terms & People Terms enclosure crop rotation industrial Rev. industrialization urbanization 3 factors of production reform movements corporation stock entrepreneur union collective bargaining laissez-faire economics free market economics Capitalism Utilitariansim socialism communism People Adam Smith Karl Marx William Wilberforce Horace Mann

Section 1 Industrial Revolution- change from man made to machine made goods Agricultural Revolution – enclosures and increased food supply Fewer farmers were needed ( they become the labor force for the factories)

Natural Resources- England had : coal and water power for their machines, iron ore to make machines and tools, rivers for transportation, and harbors for worldwide trade

Railroads provided cheap and fast transportation of goods and materials

Section 2 Urbanization – growth of cities Caused overcrowding (more people than houses)

New Middle Class was created- skilled workers, overseers, bankers, etc. Upper Class resented the middle class

Section 3 Industrial Revolution spreads Industrialization led to an overuse of natural resources The need arose to get resources from other places (imperialism) Inequality between industrialized and non industrialized countries

Section 4 Capitalism- free market system Adam Smith in “Wealth of Nations” Laissez-faire – Government keeps “hands off” economy

Socialism government controls major means of production and distribution

Communism Theory – The people collectively control all means of production and distribution Reality - Government controls all means of production and distribution Karl Marx “Communist Manifesto”

Reforms Education – Horace Mann Women’s Rights – Abolition – William Wilberforce Child Labor Laws Labor Unions – protect the rights of workers