1. Industrial Revolution

2. Increased output of machine-made goods Began in England in the mid 1700s

3. Agricultural Revolution Dramatic improvement of farming methods –Leads to increased food supply –Leads to larger populations

4. Crop Rotation System of growing different crops each year to preserve fertility of land Prevents disease Increases nutrients left in soil

6. Why Industrialization Began in England Had the 3 Factors of production needed (1)Land (2) labor (3) capital (wealth) Land: Had extensive natural resources –Coal, iron, water Labor: Large population of workers Capital: Banking system allowed businesspeople to get loans

7. Textiles Textiles (cloth products) first area to be industrialized Spinning wheel (Older way) Power Loom (industrialized way)

8. Entrepreneur Business person who organizes, manages and takes on risks of business. Entrepreneurs helped inventors pay for their ideas

9. Inventions Steam Engine –Used for boats and locomotives (trains)

10. Railroad’s Effects on Industrialization Cheap way to transport materials & finished products Created many new jobs for railroad workers & miners Since travel easier & faster, people can take distant city jobs. The “Rocket” train. One of the first steam driven locomotives

11. The Rocket One of first steam driven locomotives Hauled 13 tons at the unheard of speed of 24 mph

12. Long hours Worked 12 hour days 6 Days a week No vacations

13. Child Labor Many worked in factories Many were injured No laws against child labor

14. Negative Effects Cities crowded & dirty Disease spread Wages low Factory conditions not safe Pollution levels high

15. You will work with a partner Use your book & notes for information Pros of Industrial Revolution Write 3 different pros Draw a picture of one of the pros. Include a caption (description) under the picture Use color on the picture! Cons of Industrial Revolution Write 3 different cons Draw a picture of one of the cons. Include a caption (description) under the picture. Use color on the picture!

16. Industrial Revolution Pros (p. 726) 1. 2. 3. Cons (p. 724 & 725) 1. 2. 3. Caption Picture

17. Urbanization Movement of people from countryside to cities It increased during industrial revolution as more people worked at factories in cities Population grows faster than housing supply

19. Industrial Revolution: Pros Created jobs for workers; increases size of middle class Increased wealth of nations Increased production of goods Faster transportation

20. Industrial Revolution: Pros Living conditions for average worker better Better quality clothing Improved diets of people Better educational opportunities Consumer goods more affordable

21. Industrial Revolution: Cons Shorter life span in cities than in countryside –Mostly due to illness from unhealthy living conditions Length of average work day increases Factory working conditions unsafe Environment polluted

22. Stock Rights of ownership to a business Stock owners are partial owners of business 1 Share of Microsoft stock = $16.65 on March 13

23. Corporation Business where stockholders hold shares of its profits but aren’t responsible for company’s debts.

24. Industrial Revolution in the US Britain tries to prevent US from learning how to build textiles machines Won’t allow engineers, toolmakers & mechanics to leave country. Some sneak out to the United States

25. Industrial Revolution in the US Industrialization in US began in textiles industry Later, railroads expand rapidly

27. 1890

28. Adam Smith Wrote book “The Wealth of Nations” Defends the free market system of capitalism Argued against government planning in economy Promoted Laissez-Faire economy

29. Capitalism Businesses and property privately owned Goal for business is profit; some become very rich while others are poor Competition forces people to make better products

30. Laissez-Faire French phrase meaning “leave it be” Little government interference in business (hands off business) Industry owners can set their own working conditions instead of being government mandated

31. Karl Marx Believer in Communism Argued for active government planning of economy Capitalist employers take advantage of workers –Workers should unite & overthrow capitalist employers

32. Communism Goal is to create an even distribution of wealth for all people; eliminate rich & poor Government should own businesses & means of production (factories & businesses)

33. Unions Strikes in Great Britain illegal before trade union movement –Strike = refusal to work by employees until conditions met by employer Collective bargaining –Negotiation between employers & employees; employees ask for better pay & working conditions