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 Vocabulary ◦ factors of production ◦ entrepreneur.

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Presentation on theme: " Vocabulary ◦ factors of production ◦ entrepreneur."— Presentation transcript:

1  Vocabulary ◦ factors of production ◦ entrepreneur

2  Vocabulary  urbanization  middle class

3  Vocabulary ◦ laissez faire ◦ capitalism

4  Vocabulary ◦ Socialism ◦ Communism

5 Large-scale agriculture paves way  Large landowners  Improved techniques ◦ Crop rotation  Resources ◦ waterpower and coal ◦ iron ◦ rivers ◦ harbors  ≈1750 – England : textiles

6  Transportation improvements ◦ Watt’s Steam Engine  Robert Fulton’s Clermont ◦ “macadam” roads ◦ Locomotives  George Stephenson’s Rocket  29 mi/hr !!!

7  Technological advances ◦ flying shuttle ◦ spinning jenny ◦ water frame ◦ spinning mule ◦ power loom ◦ water power ◦ cotton gin (Eli Whitney! 1793!!)  All contributed to factory development

8 Rise of Cities – “urbanization”  Poor working conditions  No development plans  Poor sanitation  Poor housing  Epidemics

9 Rise of Middle Class  more products=more $$$  managers, foremen, accountants… Also…  more poor laborers The Luddites, 1779  protested poor conditions  damaged machines

10 Positive Effects  Created jobs  Raised standard of living  Educational opportunities  Hope of improvement  Led to labor unions ◦ Improved conditions ◦ Better pay  Produced more taxes ◦ Fire departments ◦ Police force ◦ Garbage pick up ◦ Better roads

11  depended on “land, labor, money”  spread to continent & US ◦ Belgium ◦ Germany ◦ France ◦ US  War of 1812 blockaded US

12 US Industrialized ◦ Began in textiles ◦ Sam Slater – memorized spinning machine ◦ 1813: Lowell, MA ◦ Independent women vs. servants

13 Capitalism  developed over previous 4 centuries Laissez-faire thinkers  Adam Smith  The Wealth of Nations

14  Adam Smith ◦ The Wealth of Nations  self interest  competition  supply & demand  did not foresee poor conditions

15 Thomas Malthus  An Essay on the Principles of Population  Predicted rapid population growth ◦ Not enough food  Wars, famines were deterents  Very “class-ist” ◦ thought poor were immoral  Understood limits to growth ◦ carrying capacity

16 Jeremy Bentham  “greatest good for greatest number” John Stuart Mill  more equal division of profits Socialism ◦ people own the means of production ◦ equal distribution of resources ◦ Utilitarianism  need gov’t action for greatest good

17 Karl Marx & Fredrick Engels  The Communist Manifesto ◦ extreme/radical form of socialism ◦ caused by warring classes  bourgeoisie vs. proletariat ◦ means of production owned by public ◦ for welfare of all ◦ also, governed by the people ◦ ∴ there are no classes

18  also called “Marxism”

19  Jane Addams  Hull House – housing for working poor

20 Rise of Corporations ◦ Diluted risk  Standard Oil  Carnegie Steel  Continental Europe Impact  Widened gap btwn countries  Development of middle class

21  Class warfare ◦ middle class → provide more taxes, more services ◦ upper class → history of lower taxes  Environmental degradation ◦ population explosion ◦ threatening carrying capacity ◦ mass extinctions, epidemics, accidents  Advanced technologies ◦ nuclear weapons, A-k 47’s


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