Lesson 9: Industrial Revolution
The most basic way to explain the Industrial Revolution was that it was the change between using tools and manual labor to using machines. The Industrial Revolution began in Great Britain. From there, it would spread to France, Germany, and the United States. Watch the video and read about the Industrial Revolution in Great Britain here: http://www.history.com/topics/industrial-revolution
The American Industrial Revolution technically began in the 1700s. Read about the early Industrial Revolution here: http://www.ushistory.org/us/22a.asp
The American Industrial Revolution technically began in the 1700s. Read about the early Industrial Revolution here: http://www.ushistory.org/us/22a.asp
Economic Systems
Here is a good place to quickly go over different economic systems throughout the world. There are four economic systems: traditional, command, market and mixed. Read about them here: https://blog.udemy.com/types-of-economic-systems/
So what is the difference between capitalism and socialism? Read through the comparison chart (you don't have to read the rest) here: http://www.diffen.com/difference/Capitalism_vs_Socialism. Neither capitalism nor socialism is ideal when looking at the economy of an entire nation. On the socialism side, the government would provide everything you need so why work hard for anything if you are going to be cared for whether you work or not. On the other hand, under total capitalism the world could be taken over by one person who owns everything. A balance is needed between these two ideologies in order for the "American Dream" to exist. The American Dream is the idea that anyone, even in the poorest circumstances, can build themselves up and become a person of prominence in business. The American Dream also works hand in hand with Manifest Destiny. Manifest Destiny is the idea that Americans, by Providence or a higher power, have the right to spread across North America. The excuse is that by expanding, those who live in the places the country comes to include will then have liberties they would not get under any other government. The reality is that Americans want to become bigger and better, so the more land the United States covers, the more opportunity there is for an individual to achieve the American Dream.
So what is the difference between capitalism and socialism? Read through the comparison chart (you don't have to read the rest) here: http://www.diffen.com/difference/Capitalism_vs_Socialism. Neither capitalism nor socialism is ideal when looking at the economy of an entire nation. On the socialism side, the government would provide everything you need so why work hard for anything if you are going to be cared for whether you work or not. On the other hand, under total capitalism the world could be taken over by one person who owns everything. A balance is needed between these two ideologies in order for the "American Dream" to exist. The American Dream is the idea that anyone, even in the poorest circumstances, can build themselves up and become a person of prominence in business. The American Dream also works hand in hand with Manifest Destiny. Manifest Destiny is the idea that Americans, by Providence or a higher power, have the right to spread across North America. The excuse is that by expanding, those who live in the places the country comes to include will then have liberties they would not get under any other government. The reality is that Americans want to become bigger and better, so the more land the United States covers, the more opportunity there is for an individual to achieve the American Dream.
Assignment #9
1. What machine replaced the need for the spinning wheel?
2. What was the Bessemer process used for?
3. Describe the job security an unskilled worker had during this time period.
4. Who "started" the American Industrial Revolution?
5. What economic system do we have today?
6. What is the most ancient type of economic system?
7. Explain laissez-faire economics.
8. Does the idea of the American Dream exist today?
9. What is Manifest Destiny?
10. In your opinion, which is better in its ideal form: socialism or capitalism? Why?
2. What was the Bessemer process used for?
3. Describe the job security an unskilled worker had during this time period.
4. Who "started" the American Industrial Revolution?
5. What economic system do we have today?
6. What is the most ancient type of economic system?
7. Explain laissez-faire economics.
8. Does the idea of the American Dream exist today?
9. What is Manifest Destiny?
10. In your opinion, which is better in its ideal form: socialism or capitalism? Why?