Concept 1: Industrialization and Global Capitalism

Industrialization fundamentally altered the production of goods around the

world. It not only changed how goods were produced and consumed and what
was considered a good, it also had far-reaching effects on the global economy,
social relations, and culture. Although it is common to speak of an Industrial
Revolution, The process of industrialization was a gradual one that unfolded
over the course of the 18th and 19th centuries, eventually becoming global.

1. Industrialization
The development of industries in a country or region on a wide scale.
2. Industrial Revolution
Period of major industrialization that took place during the late 1700s and early
1800s
3. Consumerism
The protection or promotion of the interests of consumers.
4. Global Economy
Economy of the world, considered as the international exchange of goods and
services that is expressed in monetary units of account
5. Globalization
The process by which businesses or other organizations develop international
influence or start operating on an international scale.
6. Urbanization
The process of making an area more urban
7. Raw Goods
Materials or substances used in the primary production or manufacturing of
goods
8. Fossil Fuels
a natural fuel such as coal or gas, formed in the geological past from the
remains of living organisms.

Industrialization fundamentally changed how goods were produced

Factors led to the rise of industrial production, including:
Europe's location -- atlantic ocean
Distribution of coal, iron, and timber
European demographic changes
Urbanization
Improved agricultural productivity
Legal protection of private property
Abundance of rivers and canals
Water Power Factories
Access to foreign resources
Tea, silk, cotton Trading/Markets
Machines
The development of machines, including steam engines and the internal
combustion engine, made it possible to exploit vast new sources of energy
stored in fossil fuels, specifically coal and oil. The fossil fuels revolution greatly
increased the energy available to human societies.
Factories
Development of factories concentrated labor in a single location and led to an
 increasing degree of specialization of labor.
ONE job per person
Raw Goods
New patterns of global trade and production developed and further integrated
the global economy as industrialists sought raw materials and new markets for
the increasing amount and array of goods produced in their factories,
**Empires -- Private companies
Examples of Goods
Cotton
Rubber
Palm oil
Sugar
Wheat
Meat
Guano
Metals
Second Time Around
The second industrial revolution led to new methods in the production of steel,
chemicals, electricity, and precision machinery during the second half of the
19th century.
Spread The Love
As the industrial revolution became prevalent, it spread to the US, Japan,
Russia, and other places.
Exit Ticket

Concept 2: The Development and Spread of Global Capitalism

In industrialized states, many workers organized themselves to improve
working conditions, limit hours, and gain higher wages, while others opposed
industrialists treatment of workers by promoting alternative visions of society,
including Marxism

1. Utopian
Modeled on or aiming for a state in which everything is perfect; idealistic
2. Socialism
A political and economic theory of social organization that advocates that the means of
production, distribution, and exchange should be owned or regulated by the
community as a whole.
3. Anarchism
belief in the abolition of all government and the organization of society on a voluntary,
cooperative basis without recourse to force or compulsion.
4. Capitalism
An economic and political system in which a country's trade and industry are
controlled by private owners for profit, rather than by the state.

5. Totalitarianism
A system of government that is centralized and dictatorial and requires complete
subservience to the state.
6. Marxism
The political and economic theories of Karl Marx and Friedrich Engels, later developed
by their followers to form the basis for the theory and practice of communism.
 7. Gold Standard
The system by which the value of a currency was defined in terms of gold, for which
the currency could be exchanged. The gold standard was generally abandoned in the
Depression of the 1930s.
8. Liberalism
The holding of liberal views
9. Adam Smith
Adam Smith is one of the world's most famous economists. Modern capitalism owes
its roots to Adam Smith and his Wealth of Nations, which many consider the single
most important economic work in history.
10. Robber Barons
A person who has become rich through ruthless and unscrupulous business practices
(originally with reference to prominent US businessmen in the late 19th century).

Concept 3:

Concept 4: