1. The Industrial Revolution A NEW Type of Revolution

2. Industrial Revolution When: Occurred from 1750-1850 –Started in England and spread Importance: Transformed the way society was organized –How & where people worked & lived –Changed the power structure (more upward mobility, rising middle class) Key Changes –Agricultural Revolution led to Industrial Revolution –People move from rural (countryside) to urban areas (cities) –Machines introduced in production of goods

3. Agricultural Revolution Began to experiment with new farming techniques –rotate crops each year –wealthy landowners enclosed land –significantly increased the size of harvest End Result: –food supply increased dramatically –led to an expanding population –People moved to cities (urbanization) Enclosures

4. Improved Farming Techniques Increased food output Growing population Greater demand for goods Growing worker class Agricultural Revolution leads to:

5. 1 st Reading Industrial Revolution Introduction

6. Economic Organization BEFORE Economic Organization AFTER INDUSTRIAL REVOLUTION CHANGES ECONOMICS

7. A Diagram of Cottage IndustryA Diagram of Cottage Industry A Diagram of Cottage IndustryA Diagram of Cottage Industry A Diagram of Cottage IndustryA Diagram of Cottage Industry A Diagram of Cottage IndustryA Diagram of Cottage Industry Before ---------------------------------------------------- Industrial Revolution changes the Economy Rural, subsistence economy Cottage Industry After Urban, surplus economy Factory Industry

8. Rise of Factories Factories became the “new” work environment –Machines placed in factories –Originally built near water for power Rise of the Entrepreneur –People who built new businesses –“risk takers”

9. A “NEW” ECONOMY Cottage Industry => Industrialized Society Economic System: –How do you organize an economy? –Should the Government be involved?

10. Why England? England’s advantages: Large population Extensive natural resources –Water power, coal, iron ore, rivers, harbors –Easy to ship goods around world Well developed Banking System Expanding Economy –Decline of aristocracy & rise of bourgeoisie To industrialize a country needs Land, Labor & Capital

11. What is an Economy? The way goods, services and money flow through a society