Industrial Revolution Review

The Spinning Jenny

• James Hargreaves

• James Watt

• Eli Whitney

• Henry Bessemer

The Steam Engine

• James Hargreaves

• James Watt

• Eli Whitney

• Henry Bessemer

The Cotton Gin

• James Hargreaves

• James Watt

• Eli Whitney

• Henry Bessemer

Process for making Steel

• James Hargreaves

• James Watt

• Eli Whitney

• Henry Bessemer

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.

• Capitalism

• Socialism

• Communism

A political and economic theory of SOCIAL organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.

• Capitalism

• Socialism

• Communism

A political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs.

• Capitalism

• Socialism

• Communism

Check 3 economic philosophies that came out of the Industrial Revolution

• Communism

• Socialism

• Capitalism

• Cronyism

Wrote the book on Capitalism called "Wealth of Nations"

• Adam Smith

• Louis Pasteur

• Edward Jenner

• James Watt

Two things Adam Smith emphasized in the wealth of nations

(click two answers)

• Division of Labor

• Free Markets

• Publicly owned property

• Political Socialism