History Notes: period 5 "1700 CE to 1900 CE"

5.1 Industrialization and Global Capitalism

Industrialization altered the production of goods, and had effects on the global economy,
cultures, and socially
18th and 19th centuries
Became global
Key terms: industrialization: development of industries on a wide scale
Industrial revolution: period of rapid growth in industrialization
Consumerism: protection of the interest of consumers
Global economy: international spread of capitalism
Globalization: making something spread all over the world
Urbanisation: making thing industrialized and modern
Raw goods: materials used for producing goods
Fossil fuels: anaturalfuellikecoalorgas,formedfromtheremainsoflivingorganismsin
past.
Factors leading to industrialization included europe's location in atlantic ocean, distribution of
coal, iron, timber, euro demographic changes, urbanization, improved ag. Productivity, legal
protection of private property, rivers,canals, foreign resources
Machines - specifically engines- connected us with new sources of energy from fossil
fuels (coal, oil) this was called the fossil fuels revolution and increased energy access
to societies
Factories concentrated labor in single locations and led to specialization
Industrialists sought raw materials and new markets for the array of goods they
produce *shift from earlier periodization (before=empires/ now=private companies)
Production of natural resources like cotton,rubber, palm oil, sugar, wheat, meat, guano,
metals
Second industrial rev. led to new methods to produce steel, chemicals, electricity,
and precision machinery *2nd half of 19th century
It became more common in europe, and spread to U.S., japan and russia

5.2 development and spread of global

capitalism
Key terms:
Utopian - an idealistic world with
Socialism - equal division of money (discordant of capitalism)
Anarchism - radicals that were neither left nor right
Capitalism: Private companies collecting all the money they produce
Totalitarianism - system requiring subservience to the state
Marxism - just like socialism
Gold standard - governments valuing based on gold
Liberalism - having liberal views
Adam Smith: philosopher and political pioneer from scotland
Robber Barons: greedy men who did not pay workers well in factories, but made a huge profit
from mass production
- Global trade and production led to global businesses which relied on financial
instruments like stock markets, insurance, gold standard, limited-liability corporations
- Economic changes was caused by capitalism and classical liberalism w/ adam smith
and john mill
- Henry ford ->american industrialist who created ford motor company and started the
assembly line for mass production
- Captains of industry claim...Public response
- OPPOSING VIEWPOINTS:
Captains of industry (good) - create jobs, increase production, build nation (tyically the
viewpoints they had on themselves)
Robber Barons (bad) - exploited workers, greedy, bribed for political favors
- ANDREW CARNEGIE led expansion of steel production in 19th century. Role as a
philanthropist US and British empire
- JOHN ROCKEFELLER industrialist and philanthropist, co founder of Standard Oil
Company which dominated oil industry and was first great US business trust.
- Trust: organization of business designed to operate like a monopoly (a boss has a boss)
- Trust busting: presidents that try to eradicate monopoly trusts
- Spread of capitalism led to diff responses: Utopian socialism, Anarchism, Industrialism
in Communist states
- LEFT WING -> Socialism and liberalism, communism RIGHT WING->Conservative,
monarch, nazism

China and Ottoman emp.: members of these govs resisted economic change (like
pre-industrialism)

In a couple states, members promoted their own state-sponsored industrialism:

- Economic reforms in japan
- Factories and railroads in Tsarist Russia
- Cotton textile in Eqypt

Reform took place b/c of the negative, unfair parts of capitalism

State pensions and public health in germany
Expansion of suffrage (voting) in britain
Public education in many nation-states
5.3 Nationalism, Revolution, and Reform
The 18th cent. Marked period of rebellion against greedy governments