ERA #7

The Industrial Revolution & The Age of Imperialism

I.  Big Picture/Essential Understanding:

The 1800s saw a time period of innovation and achievement from the likes of Thomas Edison, James Watt, Thomas Hargreaves, etc. From the invention of the steam engine that could power large industrial factories to the railroad which transported new goods around the country, the Industrial Revolution changed the way the world worked. Citizens of Great Britain and the United States moved from a traditional, agricultural society to a more diverse, complicated, and urban society.

With new industrial might, more wealth began to accumulate and a new middle/working class rose in industrial nations. As the rich, factory owners accrued more and more money, laws were passed by the governments to protect their workers. Two economic systems began to emerge: Capitalism with the emphasis on making money with little governmental intervention v. Socialism with emphasis on the workers being protected by minimum wage laws and shorter work days.

Meanwhile, with the need for new markets for raw materials to power the wealthy, industrialized nations, expeditions were being sent to Arica and Asia for the colonization of new land. This led to the exploitation of resources…and people. Worlds continued to come together and a new sense of globalization was emerging, but it was obvious that the meeting of these individuals would prove to benefit one group greatly and the other, not at all.

II.  The Industrial Revolution:

a.  The Industrial Revolution – refers to the greatly increased output of machine-made goods that began in ______in the middle 1700s.

b.  The Three Factors of Production: ______, ______& ______.

c.  Causes and Effects:

i.  Inventions that made work more productive and efficient.

ii. New ______in factories allowed for the production of manufactured goods at a FASTER rate.

iii.  Mass production of goods also resulted in ______manufactured goods for the consumer.

iv.  The growth of the ______class.

v. Urbanization. As factories were built, people began to move away from farms and into ______.

vi.  Unfair working conditions and child labor leading to the rise of labor ______.

vii.  The need for raw materials resulting in the taking over of ______countries in Asia and Africa.

III.  Two Economic Systems Dominate the Industrial Revolution:

i.  Capitalism – the factors of production are privately owned and money is invested for profits. The economy functions based on the demand for goods and with no governmental interference.

Adam Smith/”The Wealth of Nations”: ______

ii. Socialism – factors of production are governmentally owned and the belief that a capitalist economy brings greed and unfairness to a society. Government controlled economy.

Karl Marx/ “The Communist Manifesto”: ______.

IV. Economic Systems

a.  Traditional Economy: Allocation of resources is based on rituals, customs, and traditions. Direct Trade.

b.  Market Economy: Privately owned companies. Goal is to make a profit. Consumers have choices. Little Government Interference. (Laissez-faire.)

c.  Command Economy: The economy of a nation is controlled by the government. Government decides what is produced, who receives the goods, and at what cost (sets prices.)

d.  Mixed Economy: Mix of privately and governmentally controlled businesses.

Example of Traditional: / Example of Free Market:
Example of Command: / Example of Mixed Economy:

V.  The Age of Imperialism:

a.  Imperialism – the seizure of land and/or resources of a weak country by a stronger country, resulting in the domination of political, economic, and social life of the weaker nation.

b.  The Scramble for Africa:

i.  Beginning at the ______in 1884, the European powers convened to lay down ground rules for the division of Africa. This resulted in 95% of the African continent being under ______control by 1914.

ii. These foreign countries forced Africans to work as ______in their own countries, used most of the fertile land, and then took (exported) the wealth out of the countries.

The nations of Liberia and Ethiopia were the only 2 African nations not under European control.

c.  Imperialism in Asia:

i.  ______led the Age of Imperialism by claiming lands in Africa and Asia.

ii. Their “______in the ______” was India, for being the most valuable of all the colonies.

iii.  On a positive note, Great Britain modernized India, brought Democratic ideals, westernized education, and established courts of justice.

iv.  A negative impact Great Britain’s colonization of India had was removing India’s traditional culture.

v. India fought for independence both violently with the ______Mutiny in 1857 and with Mohandas Gandhi’s ______March in 1930.

vi.  India became an independent nation on August 15, 1947.

Review the Following Topics from ERA 6:

a.  The Renaissance b. Benefits of the Printing Press c. Age of Exploration

d.  Mercantilism e. The Columbian Exchange f. The Reformation