Industrial Revolution I

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Published on 16 Feb 2011
School
UTSG
Department
History
Course
HIS109Y1
January 17, 2011
Industrial Revolution I
Terms:
Psysiocrats
Adam Smith, The Wealth of Nations (1776)
James Hargreaves
Richard Arkwright
James Watt
-The political revolutions have been taking place in Europe
-But this revolution is based on the demand, no political slogans
-There is debate whether 100 years of the industrial revolution, is can be classifies as a revolution
-Acceleration of economic growth emergence of the capitalism economy
-Introduction to machinery productivity increased and lead to factory work, which came with a set
of its own problems
-Industrial revolution changes the face of Europe
-Changes were significant or may be revolutionary
-Changes for the working class were staggering
-Central to the growth of the capitalistic system first flourished in Italy and then expanded to
Europe was limited by centralized governments
-Capitalism private property and profit motive, driven by market was essential to get the
restrains off
-Consumer consumption drives capitalism
-Need for new markets
-Enlightenment people agreed that the right to property was an inalienable right
-If you freed up trade, like psysiocrats argued, more wealth could be generated
-Psysiocrats French economic thinkers
oCentral idea of the school out their faith in land
oPsysiocrat means the rule of nature
oDid not believe that manufacturing could produce the same amount of wealth as land
oRefereed to manufacturing as sterile form of economy
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Document Summary

The political revolutions have been taking place in europe. But this revolution is based on the demand, no political slogans. There is debate whether 100 years of the industrial revolution, is can be classifies as a revolution. Acceleration of economic growth  emergence of the capitalism economy. Introduction to machinery  productivity increased and lead to factory work, which came with a set of its own problems. Changes were significant or may be revolutionary. Changes for the working class were staggering. Central to the growth of the capitalistic system  first flourished in italy and then expanded to. Capitalism  private property and profit motive, driven by market  was essential to get the restrains off. Enlightenment  people agreed that the right to property was an inalienable right. If you freed up trade, like psysiocrats argued, more wealth could be generated. Adam smith is who is responsible for talking about enlighten economic theories  how people attained luxury goods.