Key Concepts of the Industrial Revolution and Social Change
Technological Advancements
Spinning Jenny
Developed by James Hargreaves, the Spinning Jenny revolutionized textile production by enabling the spinning of eight threads simultaneously, significantly increasing efficiency.
Economic and Social Structures
Economic Liberalism
Championed by Adam Smith, this system promoted free markets and minimal government intervention in economic activities.
Law of Supply and Demand
This fundamental economic principle explains the relationship between the availability of goods, consumer demand, and price fluctuations. Increased demand typically leads to higher production and prices, and vice versa.
Class Society
A social structure where individuals are categorized based on their wealth and possessions.
Corporations
Companies owned by shareholders who receive a portion of the profits based on their investment.
Monopoly
Exclusive control granted by an authority to a single entity to conduct a specific industrial or commercial activity.
Social and Labor Movements
Chartism
A working-class movement advocating for political reforms and improved working conditions. Their 1838 petition, the People’s Charter, was rejected by Parliament, leading to the imprisonment of its leaders.
Luddism
Groups of workers who protested against industrialization by destroying machinery.
Trade Unions
Local organizations of workers from the same trade, formed to advocate for better living and working conditions. These associations were often deemed illegal and persecuted by the government.
Social and Political Ideologies
Utopian Socialism
An ideological movement opposing capitalism and advocating for government intervention to improve workers’ conditions. Its practical implementation proved unsuccessful.
Scientific Socialism/Marxism
Developed by Karl Marx and Friedrich Engels, this theory advocated for social, economic, and political change through class struggle. It envisioned the working class overthrowing the bourgeoisie to establish a classless society with collective ownership of the means of production.
Anarchism
Led by Mikhail Bakunin and inspired by Pierre-Joseph Proudhon, anarchism opposed all forms of government, advocating for individual freedom and the abolition of private property.
International Workers’ Movements
The First International
Founded in London in 1864, this workers’ association, also known as the International Workingmen’s Association (IWA), faced government persecution and internal disputes between Marxists and anarchists, leading to its dissolution in 1876.
The Second International
Established in Paris in 1889, this organization advocated for the eight-hour workday and designated May 1st as International Workers’ Day. The outbreak of World War I exposed national divisions and led to its collapse.