Industrial Revolution Terms - Historical Overview PDF

Agricultural Revolution Thomas Malthus Tenements Laissez-faire Luddites Separation of Labor Capitalism Karl Marx Enclosure Chartist Movement Free Market Economy Communism Jethro Tull Combination Acts Supply and Demand Bourgeoisie  Cottage Industry Spinning Jenny Profit Motive Proletariat  Industr...

Agricultural Revolution Thomas Malthus Tenements Laissez-faire Luddites Separation of Labor Capitalism Karl Marx Enclosure Chartist Movement Free Market Economy Communism Jethro Tull Combination Acts Supply and Demand Bourgeoisie  Cottage Industry Spinning Jenny Profit Motive Proletariat  Industrial Revolution Adam Smith Utopian Socialists Labor Union Agricultural Revolution: Term: Significance: major advancements in farming techniques and livestock breeding, which led to a dramatic increase in food production, enabling population growth, urbanization, and ultimately paving the way for the Industrial Revolution by providing a larger workforce and surplus food supply to support growing cities Luddites: Term: Significance:people violently opposed to technological change Enclosure: Term: Significance: one of the causes of the Agricultural Revolution Jethro Tull: Term: Significance: helped to provide the basis for modern agriculture. Cottage Industry: Term: Significance: an important source of income in rural areas where jobs are scarce. Thomas Malthus: Term: Significance: developing the \"Malthusian Theory,\" which argues that human population growth will inevitably outpace the food supply, leading to famine and hardship unless strict limits on reproduction are enforced Separation of Labor: Term: Significance: All crafts, trades and arts have profited from the division of labour; for when each worker sticks to one particular kind of work that needs to be handled differently from all the others, he can do it better and more easily than when one person does everything. Chartist Movement: Term: Significance: Chartism was a working class movement which emerged in 1836 in London. It expanded rapidly across the country and was most active between 1838 and 1848. The aim of the Chartists was to gain political rights and influence for the working classes. Combination Acts: Term: Significance: directed against trade unions (combinations of workmen) when the government feared unrest and even revolution. Spinning Jenny: Term: Significance: one of the key developments in the industrialisation of textile manufacturing during the early Industrial Revolution Adam Smith: Term: Significance: father of modern economics\" due to his groundbreaking work, \"The Wealth of Nations,\" which introduced key economic concepts like the division of labor, the invisible hand, and the idea that free markets, driven by individual self-interest, can lead to societal prosperity, significantly shaping economic thought and policy to this day. Tenements: Term: Significance: During the Industrial Revolution, many tenements were built to house working-class families, many of whom were moving to cities to work manufacturing jobs Capitalism: Term: Significance: mass production of products Free Market Economy: Term: Significance: The biggest advantage of a free market is the flexibility both the buyer and seller have in how they interact. With little government regulation, buyers can spend their money however they choose Supply and Demand Term: Significance: Supply and demand are considered the fundamental forces that determine the price of a good or service in a market, essentially acting as the core mechanism that drives market dynamics and influences production decisions made by businesses, making them crucial for understanding how economies function and operate effectively; when demand for a product is high and supply is limited, prices tend to rise, while the opposite scenario leads to price drops. Profit Motive: Term: Significance: The profit motive is useful in business because it encourages leaders to take action. The profit motive affects buying and can regulate supply and demand. If there\'s too little of an important product, the price increases, and the manufacturers or farmers produce more of that product Utopian Socialists: Term: Significance: Utopian socialists believed that people of all classes could voluntarily adopt their plan for society if it was presented convincingly. Cooperative socialism could be established among like-minded people in small communities that would demonstrate the feasibility of their plan for the broader society. Laissez-faire: Term: Significance: to promote a free and competitive market that demands the restoration of the order and natural state of liberty that humans emerged from. Karl Marx: Term: Significance: his theories that led to the development of Marxism. Communism: Term: Significance: communist society would entail the absence of private property and social classes, and ultimately money and the state (or nation state). Bourgeoisie: Term: Significance: revolutionizing industry and modernizing society. However, it also seeks to monopolize the benefits of this modernization by exploiting the propertyless proletariat and thereby creating revolutionary tensions. Proletariat: Term: Significance: their labour power (their capacity to work). Labour Union: Term: Significance: create higher wage and benefit standards, working hours limits, workplace hazards protections, and other factors