The Industrial Revolution

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1700 -1920 New Roles for Business Leaders • Capitalism – thrives in England and led to theory that government should not interfere. Private ownwership • Laissez-faire – little government interference in a nation’s economy. • Adam Smith – <strong>The</strong> Wealth of Nations - markets free from government interference benefited all. • Thomas Malthus – population growth caused by the development of industry • Entrepreneur – someone who starts a new business – Andrew Carnegie – American steel industry – Cornelius Vanderbuilt – Railroad industry – John D. Rockefeller – Standard Oil
Competing Economic Views • Not everyone agreed that capitalism was the best economic system • Robert Owen – Socialism – government should own property, not the people (economic) 1700 -1920 • Karl Marx – more radical view – communism – government should own and control all factors of production (political)
Page 1 and 2: Industrialization through Imperiali
Page 3 and 4: 1. A New Kind of Revolution 1700 -1
Page 5 and 6: Factors for Success - Great Britain
Page 7 and 8: 1700 -1920 Britain’s Big Advantag
Page 9 and 10: A New Way of Cloth 1700 -1920 • A
Page 11 and 12: The Steam Engine 1700 -1920 • Eng
Page 13 and 14: 1700 -1920 Industrialism Spreads
Page 15 and 16: Industry Spreads to Europe • Will
Page 17 and 18: 1700 -1920 2. Factories and Workers
Page 19 and 20: 1700 -1920 Cottage Industries • B
Page 21 and 22: 1700 -1920 Life in Factory Towns
Page 23 and 24: Cottage Workers’ Unrest 1700 -192
Page 25 and 26: A New Class of Workers 1700 -1920
Page 27 and 28: Effects of Mass Production • Adva
Page 29: New Ideas about Economics 1700 -192
Page 33 and 34: 1700 -1920 Effects on Countries •

The Industrial Revolution

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