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Unit 1: Industrialization industrial revolution (Economic Developments…

- - - - Economic theory
        
        Trade generates wealth/geopolitical power
        
        Accumulation of profitable balances = wealth
        
        Encourages protectionism
      - Developed in 16th Century
      - Spain, Britain, France, Holland
      - Basic Principles
        
        Bullionism
        
        Export more than you import
        
        Favorable balance of trade
        
        High tariffs on imported manufactured goods
        
        Low tariffs on imported raw materials
        
        Health of a nation could be measured by its amount of precious metal
        
        Economic self-sufficiency
        
        Those founding new industries should be reward by the state
        
        Thriving agriculture
        
        Less of need to import foods
        
        Prosperous farmers provide base for taxation
        
        Sea power
        
        Less need to use the ships of other nations to carry your trade goods
        
        Your own fleet adds to the power and prestige of nation
        
        Internal taxes
        
        Colonies
        
        Provide captive markets for manufactured goods & sources of raw materials
        
        Trade = "zero sum" game
        
        A nation can gain in international trade only at expense of other nations
        
        Large population
        
        Needed to provide a domestic labor force to people the colonies
        
        Avoid Luxury Items
        
        Luxury items take money out of economy uncessarily
        
        State action
        
        Needed to regulate and enforce other policies
        
        State-sponsored trade monopolies
    - - Adam Smith, David Ricardo
      - Lack of interference in economy
  - - - Examples
        
        Automobiles
        
        Railroads
        
        British Canals
      - More effective
    - - Improvements in farming techniques
      - Cultivating of "enclosure" system
      - Start of Industrial Revolution grew out of a revolution in farming
    - - Inventions
        
        Cotton Gin
        
        Spinning Jenny and Spinning Mule
  - - - Population growth
      - Larger workforce
    - - Rich were getting richer
      - Poor were getting poorer
- - - - Shorter work hours
      - Better wages
      - Safer conditions
      - Worker protections
    - - Unions
      - Healthcare
      - Worker compensation
  - - - Thomas Hobbes
        
        Believed people by nature are selfish
        
        Need strong ruler to maintain order
        
        Social contract
        
        People give up rights for order
      - John Locke
        
        Believed people born with blank minds/should be educated
        
        People learn best through experience/improvement
        
        People are born with certain rights "natural rights"
      - Voltaire (aka Francois Arouet)
        
        Tolerance of others
        
        Freedom/tolerance of all religions
        
        Freedom of expression
      - Jean Jacques Rousseau
        
        Radical/diverse
        
        Novelist, musician, educator
        
        Social equality/individual freedoms
      - Ceasare Beccaria
        
        One of the few upper class thinkers of era
        
        Criticized justice system in Europe
        
        Anti-torture
        
        Anti-capital punishment
        
        Trial by jury
      - Mary Wollstone Craft
        
        "Renaissance woman"
        
        Feminist
        
        Pro-education
        
        Women have a right for involvement in politics
        
        Remembered for love affair w/philosopher William Goodwin
    - - Major intellectual movement during mid-to-late 1700's
        
        People questioned long-held truths - thinkers stood for a number of ideals
        
        Reason = logical thinking
        
        Progress = faith in science
        
        Liberty = individual freedoms
        
        Goodness = man by nature is good
        
        Individualism = one person can make a difference
- - - - Karl Marx, Fredrich Engels
      - More radical form of Socialism
        
        Believed in a war between classes
        
        Eventually lead to classless society
    - - William Wilberforce
      - Abolishment of international slave trade
    - - Charlies Fourier
      - Believed government should control certain factors of economy
        
        Factories, mills, railroads, etc
      - Government ownership would help eliminate greedy business owners
    - - Unions: voluntary associations who represent workers in labor disputes
      - Believed workers had a say in their particular occupation
    - - Jeremy Bentham, John Stewart Mills
      - Little government involvement
      - Freedom to pursue one's own interests
    - - Public education
      - Women's rights
      - Prison reform
  - - - Based on ideals of Marxism/Socialism
        
        Karl Marx
        
        German, former college professor, author/philosopher
        
        Despised workers conditions of the Industrial Revolution
        
        Frederick Engels
        
        German, college educated, journalist/social critic
        
        Reported on workers conditions during Industrial Revolution
        
        Marx/Engels' Theory: Study world economies and the way that power, industry, & finance are controlled
      - How it works:
        
        Step 1: Proletariat rise up against Bourgeoisie
        
        Bourgeoisie: Upper class; gain wealth off proletariat
        
        Proletariat: Working class
        
        Step 2: Temporary dictatorship will step in to help redevelop society
        
        Step 3: Temporary dictatorship voluntarily gives up power to create classless utopia
    - - "Primitive Communism"
        
        Feudalism
        
        Capitalism
        
        Socialism
        
        Marxism (Modern Communism)
  - - - Believed in stronger government involvement in helping people and controlling economy
    - - Spread throughout Europe and U.S.
      - 1840's-1900's