1. The Industrial Revolution
Chapter 9

2. The Beginnings of Industrialization
9.1

3. Farming
Planting
Crop Rotation
Livestock

4. Why? England has large amount of natural resources Expanding economy
Political stability
Has all factors of production

5. Inventions
Flying Shuttle
Spinning Jenny
Factories
Cotton Gin

6. Transportation Steam Engine Improved water transportation
Improved roads
Turnpikes
Railways
used for mines
Improve transportation of materials

7. Industrialization Spreads
9.3

8. Industrialization in the United States
Britain did not want secrets to leave
Young British man leaves
Pawtucket Rhode Island - mass produce thread
Boston
mechanized every stage in the manufacture of cloth
Thousands of girls flock to factories

9. Corporations Buildings require large amounts of money
Sold shares of stock
Corporations
business owned by stockholders

10. Impact of Industrialization
Global Inequality
gap between industrialized & non industrialized countries
Poor countries valued to natural resources
Imperialism

11. Reforming the Industrial World
9.4

12. Philosophers Laissez Faire Adam Smith Law of self-interest
Law of competition
Law of supply and demand
Capitalism
factors of production are privately owned and money is invested in business ventures to make a profit

13. Socialism Utilitarianism
actions on the basis of their utility or usefulness
Utopian
Socialism
owned by public and for all
Marxism
Radical Socialism
Communism - complete socialism

14. Labor Unions Unions voluntary labor associations Strike
Collective bargaining