1. THE INDUSTRIAL REVOLUTION

2. 1. Factors of Success in Great Britain a. Exploration and Colonization i. Had many colonies that produced many raw goods ii. Colonies were also markets to sell manufactured goods b. Sea Power i. Had the largest naval and merchant fleet in the world

3. c. Political Stability i. Had peace and stability within the mother country d. Government Support i. Government passed laws that favored business e. Growth of private investment i. Private sector funded experiments for creating new technology

4. 2. Agricultural Factors a. Jethro Tull i. Invented the seed drill machine ii. Had positive and negative effects on agriculture

5. b. Positive i. Farmers improved livestock breeding methods to raise healthier animals ii. Better varieties of food crops were developed iii. Improvements increased Britain’s food supply iv. Increased Britain’s population

6. c. Negative i. Enclosure movement 1. Wealthy landowners bought more farms that had been shared by the rich and poor 2. They will combine the fields and fence them in 3. Allows for more efficient farming methods 4. Drawbacks a. It forced countless farmers off the land b. Forced people to move to the cities to look for work

7. 3. Factors of Production a. Land i. All of a nation’s natural resources ii. Water was the most important resource for Great Britain

8. b. Labor i. Great Britain had a growing population ii. Displaced farmers would make up a large portion of new factory workers

9. c. Capital i. Funds that were necessary for the Industrial Revolution ii. “human capital” 1. People with abilities and skills necessary for the Industrial Revolution

10. 4. A Revolution in Textiles a. The Cottage System i. Prior to the Industrial Revolution ii. System where weaving was done in the home

11. b. Changes in Textiles i. Eli Whitney 1. Solved problem of pulling seeds from cotton blossoms 2. Invented the cotton gin

13. ii. James Hargreaves 1. Revolutionized the spinning process 2. Invented the Spinning Jenny

14. iii. Richard Arkwright 1. Solved problems of Spinning Jenny 2. Invented the spinning frame

16. iv. Edmund Cartwright 1. Patented the power loom to meet the demand for better weaving machines

18. v. Factories 1. Will be built to house these large machines

19. 5. The Steam Effect a. James Watt i. Improved the steam engine ii. His machine was faster and more efficient at driving the machines

20. b. Richard Trevithick i. Used a steam engine to power the first locomotive in 1802

22. c. Robert Fulton i. Used steam to power ships ii. Began shipping business that would run between Albany and NYC iii. 1 st profitable use of steam navigation

24. d. Effects of Steam i. Would be used in textile industry ii. Steam will fuel the coal industry iii. Areas of farm land will become centers for coal mines and factories

25. 6. Factories a. Working Conditions i. Children began working in factories 1. Some as young as 6 2. Paid very little 3. Asked to d the more dangerous jobs because they were small and could fit in tight places

26. ii. The work day was long 1. 12hrs or more a day iii. Poor ventilation, sanitation, and inadequate food iv. Most workers were men

27. b. Labor Unions i. Formed because of working conditions ii. Represented workers interests iii. Would urge employers to change or threatened a strike

28. c. Mass Production i. A system of manufacturing large numbers of identical items ii. Interchangeable parts 1. Identical machine made parts iii. Assembly line 1. Process where product moves from worker to worker and each performs a step in the manufacturing process

29. 7. Capitalism and Competition a. Laissez-faire i. Adam Smith 1. Wrote “The Wealth of Nations” 2. Advocate of Laissez- faire a. Means, government should not interfere with business 3. Believed everyone benefited from the lack of government interference 4. This is called a market economy a. Allows business to compete with one another

30. b. Thomas Malthus i. Concerned with population growth ii. Believed that population would always grow faster than the food supply

31. 8. New Roles for Business Leaders a. Entrepreneur i. Someone who starts a business ii. Emergence will take some political power away from the wealthy landowner

32. b. Famous Entrepreneurs from America i. Andrew Carnegie 1. Led in the steel industry 2. Huge philanthropist

34. ii. Cornelius Vanderbilt 1. Built up the railroad industry 2. Grandson built the Biltmore

35. iii. John D. Rockefeller 1. Built up the oil industry

36. 9. Competing Economic Views a. Robert Owen i. Socialism 1. Believed that government or society, not individuals, should own property and control industry

37. b. Karl Marx i. Wrote “Das Kapital” 1. Believed workers would sink into poverty as capitalism grew 2. Working class will or would take control and govern themselves 3. Argued that capitalism would collapse

38. http://www.youtube.com/watch?v=kfuUoINOU 5I