THE INDUSTRIAL REVOLUTION

1. Factors of Success in Great Britain

a. Exploration and Colonizationi. Had many colonies that produced many

raw goodsii. Colonies were also markets to sell

manufactured goods

b. Sea Poweri. Had the largest naval and merchant fleet

in the world

c. Political Stabilityi. Had peace and stability within the mother

country

d. Government Supportii. Government passed laws that favored

business

e. Growth of private investmentiii. Private sector funded experiments for

creating new technology

2. Agricultural Factors

a. Jethro Tulli. Invented the

seed drill machine

ii. Had positive and negative effects on agriculture

b. Positivei. Farmers improved livestock breeding

methods to raise healthier animalsii. Better varieties of food crops were

developediii. Improvements increased Britain’s food

supplyiv. Increased Britain’s population

c. Negativei. 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 methods4. Drawbacks

a. It forced countless farmers off the landb. Forced people to move to the cities to look for

work

3. Factors of Production

a. Land i. All of a nation’s

natural resources

ii. Water was the most important resource for Great Britain

b. Labori. Great Britain

had a growing population

ii. Displaced farmers would make up a large portion of new factory workers

c. Capitali. Funds that were

necessary for the Industrial Revolution

ii. “human capital”1. People with

abilities and skills necessary for the Industrial Revolution

4. A Revolution in Textiles

a. The Cottage System

i. Prior to the Industrial Revolution

ii. System where weaving was done in the home

b. Changes in Textilesi. Eli Whitney

1. Solved problem of pulling seeds from cotton blossoms

2. Invented the cotton gin

ii. James Hargreaves1. Revolutionized

the spinning process

2. Invented the Spinning Jenny

iii. Richard Arkwright1. Solved problems

of Spinning Jenny

2. Invented the spinning frame

iv. Edmund Cartwright1. Patented the

power loom to meet the demand for better weaving machines

v. Factories1. Will be built to

house these large machines

5. The Steam Effect

a. James Watti. Improved the

steam engineii. His machine was

faster and more efficient at driving the machines

b. Richard Trevithicki. Used a steam

engine to power the first locomotive in 1802

c. Robert Fultoni. Used steam to

power shipsii. Began shipping

business that would run between Albany and NYC

iii. 1st profitable use of steam navigation

d. Effects of Steami. Would be used in textile industryii. Steam will fuel the coal industryiii. Areas of farm land will become centers

for coal mines and factories

6. Factories

a. Working Conditionsi. Children began working in factories

1. Some as young as 62. Paid very little3. Asked to d the more dangerous jobs

because they were small and could fit in tight places

ii. The work day was long1. 12hrs or more a day

iii. Poor ventilation, sanitation, and inadequate food

iv. Most workers were men

b. Labor Unionsi. Formed because of working conditionsii. Represented workers interestsiii. Would urge employers to change or

threatened a strike

c. Mass Productioni. A system of manufacturing large numbers

of identical itemsii. Interchangeable parts

1. Identical machine made parts

iii. Assembly line1. Process where product moves from worker

to worker and each performs a step in the manufacturing process

7. Capitalism and Competitiona. Laissez-faire

i. Adam Smith1. 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

b. Thomas Malthusi. Concerned with

population growth

ii. Believed that population would always grow faster than the food supply

8. New Roles for Business Leaders

a. Entrepreneuri. Someone who

starts a business

ii. Emergence will take some political power away from the wealthy landowner

b. Famous Entrepreneurs from Americai. Andrew

Carnegie1. Led in the steel

industry2. Huge

philanthropist

ii. Cornelius Vanderbilt1. Built up the

railroad industry2. Grandson built

the Biltmore

iii. John D. Rockefeller1. Built up the oil

industry

9. Competing Economic Viewsa. Robert Owen

i. Socialism1. Believed that

government or society, not individuals, should own property and control industry

b. Karl Marxi. 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

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