religion of business
Socialism
a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
Industrial Revolution
the process of change from an agrarian and handicraft economy to one dominated by industry
Louis Pasteur
a French chemist and microbiologist renowned for his discoveries of the principles of vaccination, microbial fermentation, and pasteurization.
Picket
a person or group of people standing outside a place of work or other venue, protesting something or trying to persuade others not to enter during a strike.
Spinning Jenny
a multi-spindle spinning frame, and was one of the key developments in the industrialization of textile manufacturing during the early Industrial Revolution.
Social Darwinism
believe in “survival of the fittest”—the idea that certain people become powerful in society because they are innately better.
Railroads
a track or set of tracks made of steel rails along which passenger and freight trains run.
Karl Marx
a German philosopher, critic of political economy, economist, historian, sociologist, political theorist, journalist and socialist revolutionary. His best-known titles are the 1848 pamphlet The Communist Manifesto and the four-volume Das Kapitala German philosopher, critic of political economy, economist, historian, sociologist, political theorist, journalist and socialist revolutionary. His best-known titles are the 1848 pamphlet The Communist Manifesto and the four-volume Das Kapital.
Union (Labor Union)
Textile Factory
a large factory that is mostly focused on the industry of making textiles
Mercantilism
belief in the benefits of profitable trading; commercialism.
Coal Mines
Henry Bessemer
an English inventor, whose steel-making process would become the most important technique for making steel in the nineteenth century for almost one hundred years from 1856 to 1968.
Strike
a refusal to work organized by a body of employees as a form of protest, typically in an attempt to gain a concession or concessions from their employer.
Assembly Line
manufacturing systems in which work-in-progress moves from station to station in a sequential fashion
Communism
a political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs.
factory
a building or group of buildings where goods are manufactured or assembled chiefly by machine.
Adam Smith
a Scottish economist and philosopher who was a pioneer of political economy and key figure during the Scottish Enlightenment.
Enclosure Acts
the abolition of the open field system of agriculture
Middle Passage
the stage of the Atlantic slave trade in which millions of enslaved Africans were transported to the Americas as part of the triangular slave trade.
Labor
work, especially hard physical work.
Steam Engine
a heat engine that performs mechanical work using steam as its working fluid.
Entrepreneur
a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
Subsidies
a sum of money granted by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive.
Atlantic Slave Trade
segment of the global slave trade that transported between 10 million and 12 million enslaved Africans across the Atlantic Ocean to the Americas from the 16th to the 19th century.