Natural Resources- England had : coal and water power for their machines, iron ore to make machines and tools, rivers for transportation, and harbors for worldwide trade
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• People• Adam Smith• Karl Marx• William Wilberforce• Horace Mann
Section 1Industrial Revolution- change from man made to machine made goods
• Agricultural Revolution – enclosures and increased food supply
• Fewer farmers were needed ( they become the labor force for the factories)
• Natural Resources- England had : coal and water power for their machines, iron ore to make machines and tools, rivers for transportation, and harbors for worldwide trade
• Railroads provided cheap and fast transportation of goods and materials
Section 2
• Urbanization – growth of cities
• Caused overcrowding (more people than houses)
• New Middle Class was created- skilled workers, overseers, bankers, etc.
• Upper Class resented the middle class
Section 3Industrial Revolution spreads
• Industrialization led to an overuse of natural resources
• The need arose to get resources from other places (imperialism)
• Inequality between industrialized and non industrialized countries
Section 4
• Capitalism- free market system
• Adam Smith in “Wealth of Nations”
• Laissez-faire – Government keeps “hands off” economy
Socialism
• government controls major means of production and distribution
Communism
• Theory – The people collectively control all means of production and distribution
• Reality - Government controls all means of production and distribution