The Industrial Revolution -

The Industrial Revolution A NEW Type of Revolution Industrial Revolution When: Occurred from 1750-1850 Started in England and spread Importance: Transformed the way society was organized How & where people worked & lived

Changed the power structure (more upward mobility, rising middle class) Key Changes Agricultural Revolution led to Industrial Revolution People move from rural (countryside) to urban areas (cities) Machines introduced in production of goods Agricultural Revolution

Began to experiment with new farming techniques rotate crops each year wealthy landowners enclosed land significantly increased the size of harvest End Result:

food supply increased dramatically led to an expanding population People moved to cities (urbanization) Enclosures Agricultural Revolution leads to: Improved Farming Techniques Increased food output

Growing population Greater demand for goods Growing worker class 1st Reading Industrial Revolution Introduction INDUSTRIAL REVOLUTION CHANGES ECONOMICS BEFORE

Economic Organization AFTER Economic Organization Industrial Revolution changes the Economy Cottage Industry

Rural, subsistence economy ---------------------------------------------------- Before After Factory Industry

Urban, surplus economy Rise of Factories Factories became the new work environment Machines placed in factories Originally built near water for power Rise of the Entrepreneur

People who built new businesses risk takers A NEW ECONOMY Cottage Industry => Industrialized Society Economic System: How do you organize an economy? Should the Government be involved?

Why England? To industrialize a country needs Land, Labor & Capital Englands advantages: Large population Extensive natural resources Water power, coal, iron ore, rivers, harbors Easy to ship goods around world Well developed Banking System Expanding Economy

Decline of aristocracy & rise of bourgeoisie What is an Economy? The way goods, services and money flow through a society

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