Why Britain/Causes
What event (period of time/era) laid the groundwork for the Industrial Revolution?
Agricultural Revolution
What was an aspect of the unsanitary conditions workers were forced to live in during the Industrial Revolution?
Lack of Sewage system (also Low Ventilation or No Running Water)
What is the foundation of a market economy?
The Invisible Hand (Supply and Demand)
What is Adam Smith known as today?
Father of Capitalism
In Marxism, what are the two types of people that are caught in an endless struggle?
The bourgeoisie and the proletariat
What did Britain exponentially increase the consumption of to power factories and steam engines?
Coal
What was the result of the Enclosure System for many farmers?
Urbanization
What is the optimal point on a supply/demand graph called?
Equilibrium
What did Robert Owen claim was evil and would bring down society?
Religion, marriage, private property
Which reformer wanted to judge laws by how much they create happiness?
John Stuart Mill
What did Britain use non-navigable rivers to create?
Canals
What new class did the Industrial Revolution create?
Middle class
What system wants to achieve the ideal happiness in a classless society?
Socialism (Utopians)
Which reformer was against child labor and dangerous working conditions while still favoring the strong over the weak in a society?
John Stuart Mill
Which reformer would disagree with a set high wage as it would encourage more children?
David Ricardo
What factor of production includes the necessary equipment to produce a product?
Capital
What economic impact was a result of the population boom?
Increased demand (for goods)
What system supports the hard work of the few over the work of the many in a society?
Capitalism
In the U.S. today, who are the bourgeiosie?
Which reformer would be the most likely to critique the large gap between the rich and the poor a capitalistic system creates?
Karl Marx or Robert Owen
From what did Britain shift away from as machines became more common
Cotton Industries (Domestic System)
What invention had multiple spindles and could produce multiple spools of thread at once?
Spinning Jenny
What economic system would support the increase of taxes on the rich?
Utilitarianism
Which reformer wouldn't agree that the government should help the poor so as to maintain population control?
Thomas Malthus
What would Karl Marx argue as the most incriminating aspect of capitalism?
Private Property