1. Industrial Revolution

2. 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?

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

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

5. 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

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

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

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

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

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

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

12. 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

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