1. Grab your notebook In back – by windows
Glue/staple #2 Inventions into notebook
Post a sticky note for Industrial Revolution on IR #1
DUE: urban game reflection and answer to questions
What’s left for semester:
Writing Assignment (due Thurs)
Ind Rev notebook check on day of final
Test on final day

2. IR #4: “E” in P.A.I.N.T.E.
What changes did the Industrial Revolution make?
Which country industrializes first?
Why is coal important?
Name 1 invention that changes the textile industry. (What does textile mean?)
What does urban mean?
List 2 problems with urbanization.
What does PAINTE stand for – you can skip the E we’ll do that one today.

3. Economic Reasons
Entrepreneurs – people willing to take risks to get a large profit
Capital – investment $$$ / British banks were willing to lend capital
Laissez-faire: French for “let do” (or hands off) Gov should NOT regulate (place restrictions) on businesses they should “do” as they please
Most economic systems were laissez-faire

4. Adam Smith Writes The Wealth of Nations
Promotes free market, calling it capitalism: owners compete to make the most profit , no gov’t involvement
Does this happen
in the USA?

5. Think About It:
Why do employers give raises?
Why do items go on sale?
Why might the EXACT SAME candy bar sell for $1 one day and $5 the next?

6. Gov does not need to tell businesses what to do!
“Invisible hand”
Competition drives market: make the best product at cheapest price, ppl will buy it & you’ll make profit!
When the owner does what is best for herself, it helps everyone
Raise
Cheap prices
Quality products, etc.

7. The Price is Right!
How much does the following cost:

8. Pros and Cons
Advantages  of capitalism (no gov’t interference in economy)
Good for owners who can make money
Good for consumers who get high quality products at low prices
Disadvantages  of capitalism (no gov’t interference in economy)
Bad for workers: have no protections

9. Is capitalism the best way to run an economy?
What is an entrepreneur?
What is capital?
What is capitalism?
Name 1 advantage of capitalism.
Name 1 disadvantage of capitalism.

10. What’s left for this semester:
Writing assignment – assessment
Final exam – assessment
Final notebook check – assignment

11. IR #5: Did the Industrial Revolution create progress or problems for Great Britain?
Use pgs. 724 – 726
How did the IR change living conditions? List 4 ways (724)
How did the IR change working conditions? List 3 ways (Be sure to read about coal miners)
How did it help create the middle class?
What positive effects did the IR have? List 5 ways.