Textile Industry Cottage industry could not keep up with demands

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Presentation transcript:

Notebook Entry #2 Right Side: The Industrial Revolution in Great Britain 1750-1850 – Continued

Textile Industry Cottage industry could not keep up with demands New inventions: spinning jenny - spinning water frame - spinning power loom- production cotton gin - raw material

Rise of the Factory System New machines put in factories located near power source: coal, iron, water mass production

Need for Energy Steam engine replaces horse/water need for power James Watt need for power

Smelting – Henry Bessemer- created the Bessemer process = STEEL

Need for Better Transportation Inventions asphalt roads canals railroads (1829) Effects of railroads cheaper transportation=more goods=more $ fueled other industries: coal, steam engine, iron and steel

Capitalism Economic system - private ownership, free competition and profit Cottage industry = early capitalism Adam Smith =(enlightenment) Laissez Faire economics market must be set free to natural forces of supply and demand

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