All Flashcards
When was the publication of The Wealth of Nations?
- Adam Smith's book advocated for a free market economy and fueled the Industrial Revolution.
What was the Great Exhibition at the Crystal Palace?
A major exhibition in 1851 in Britain, showcasing the wonders of industrialization and attracting millions of visitors.
What was the significance of the Enclosure Acts?
Pushed peasants off their land, creating a surplus of labor for factories and contributing to urbanization.
What was the 'Potato Famine'?
A period of mass starvation, disease, and emigration in Ireland (1845-1852) caused by potato blight.
What was the significance of repealing the Corn Laws?
It was done to please industrialists and urban workers.
What was the effect of the Power Loom?
It sped up the weaving process of textiles.
What was the effect of the Spinning Jenny?
It allowed for cotton to be spun faster and into better quality cloth.
What was the effect of the Steam Engine?
It used water to generate steam and powered railroads, factories, etc.
What was the effect of the Cotton Gin?
It allowed cotton to be more efficiently removed from the seed.
When did the Potato Famine occur?
1845-1852.
Who was Adam Smith?
An economist who advocated for free markets in The Wealth of Nations, influencing the Industrial Revolution.
Who was Thomas Newcomen?
Inventor of the steam engine, which powered railroads and factories.
Who was Eli Whitney?
Inventor of the cotton gin, which allowed cotton to be more efficiently removed from the seed.
Who was James Hargreaves?
Inventor of the Spinning Jenny, which allowed for cotton to be spun faster and into better quality cloth.
Who was Edmund Cartwright?
Inventor of the Power Loom, which sped up the weaving process of textiles.
What is Capitalism?
An economic system driven by supply and demand, private investors, and free markets, with minimal government control.
What were the Enclosure Acts?
Laws that consolidated land ownership in Britain, pushing peasants off their land and creating a surplus of labor.
What is Malthus' Theory of Population?
The theory that population grows exponentially while food production grows arithmetically, leading to potential resource scarcity.
What were the Corn Laws?
Grain import/export regulations in Britain that were eventually repealed to please industrialists and urban workers.
What was the cottage system?
A system of textile production where work was done in people's homes, disrupted by industrialization.
Who were the Luddites?
Textile workers who protested industrialization by attacking factories and machinery, fearing job losses.
What is serfdom?
A system where peasants are bound to the land and controlled by landowners, hindering industrialization in countries like Russia and Italy.
What does 'urbanization' refer to?
The process of people moving from rural areas to cities, often due to industrial job opportunities.
What does 'agrarian' mean?
Relating to cultivated land or the cultivation of land.
What was the 'Hungry 40s'?
A period of severe food shortages and economic hardship in Britain during the 1840s.