The Industrial Revolution

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>The Industrial Revolution      Section 3    New The Industrial Revolution Section 3 New Ideas in a New Society Preview • Main Idea / Reading Focus • New Ideas about Economics • Competing Economic Views • Effects on Society • Quick Facts: Effects of Industrialization on Women • Map: Industrialized Europe

>The Industrial Revolution    Section 3   New Ideas in a The Industrial Revolution Section 3 New Ideas in a New Society Preview, continued • Visual Study Guide / Quick Facts • Video: The Impact of Industrialization

>The Industrial Revolution      Section 3   New Ideas The Industrial Revolution Section 3 New Ideas in a New Society Main Idea The Industrial Revolution inspired new ideas about economics and affected society in many ways. Reading Focus • What new ideas about economics developed during the Industrial Revolution? • What competing economic ideas arose as a result? • How did the Industrial Revolution affect society?

>The Industrial Revolution    Section 3   New Ideas about Economics The Industrial Revolution Section 3 New Ideas about Economics Capitalism and New Roles for Business Competition Leaders • Old mercantile system • Shift in wealth and power restricted trade • Entrepreneur • Laissez-faire economics • Banking and finance • Adam Smith, market • Andrew Carnegie, rags to economy riches • Thomas Malthus, poverty • Robber barons unavoidable • Industrialization succeeded and spread

>The Industrial Revolution   Section 3    Summarize  What were The Industrial Revolution Section 3 Summarize What were some of the new ideas about economics? Answer(s): mercantilism gave way to capitalism and competition, laissez-faire economics and The Wealth of Nations allowed for increased role of entrepreneur

>The Industrial Revolution     Section 3   Competing Economic Views The Industrial Revolution Section 3 Competing Economic Views Not everyone agreed that laissez-faire capitalism was good. Two who took a different stance were Robert Owen and Karl Marx. Robert Owen Karl Marx • More hopeful than Malthus • More radical socialism • Socialism • Predicted collapse of capitalism – Society owns property – Society controls business • Das Kapital • Model industrial town • Communism • New Harmony • Government • Social democracy – owns means of production – controls economic planning

>The Industrial Revolution   Section 3      Infer Why The Industrial Revolution Section 3 Infer Why did capitalism provoke strong response from the socialists? Answer(s): Socialists blamed capitalism for harsh working conditions, polluted cities, and the big gaps between rich and poor.

>The Industrial Revolution      Section 3    The Industrial Revolution Section 3 Effects on Society The rise of new economic ideas was among the countless effects of the Industrial Revolution. The shift away from cottage industries also affected home life and the roles of women in society. Home Life Countries Societies • Worlds of work and • Industry-great • Increase in wealth home separated power • Standard of living • “Separate spheres” • Control of other improved • Business world- nations’ economies • Leisure time without moral • Industrialization of • Changes to many controls United States aspects of life: • Women-moral • Period of – Art guidance at home immigration to – Politics United States – Transportation

>The Industrial Revolution  Section 3 The Industrial Revolution Section 3

>The Industrial Revolution  Section 3 The Industrial Revolution Section 3

>The Industrial Revolution    Section 3    Identify Cause and The Industrial Revolution Section 3 Identify Cause and Effect What were some of the major effects industrialization had on families and countries? Answer(s): families—wealth, leisure time, better educated; countries—increased power, wealth, and living standards; overcrowding of cities, pollution, rapid population growth

>The Industrial Revolution  Section 3 The Industrial Revolution Section 3

>The Industrial Revolution     Section 3     Video The Industrial Revolution Section 3 Video The Impact of Industrialization Click above to play the video.