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| A period of rapid development, roughly between 1780 and 1830, during which new forms of energy from coal and other fossil fuels were first used to power machines. Began in Britan in the second half of the 18th century. Its most significant result was the increased production and availability of manufactured goods. |
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| A period of European economic expansion, colonialism, and mercantilism which lasted from approximately the 16th century until the early 18th century. Precursor to the Industrial Revolution. |
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| Capitalism is an economic system in which the means of production are privately owned and operated for a private profit. |
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| Open fields/pasture, farmed/used by the community as a whole. |
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| Term invented by Karl Marx: the lowest class of industrial wage earners, who must earn their living by selling their labor. |
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| Sadler Commission/Report (?) |
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| Written in 1832 by Michael Sadler. Exposed the substandard working conditions of women and children in factories. |
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| Passed after the first three decades of the 19th century. Limited the number of hours that children could be required to work. |
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| English social reformer. Supported utilitarianism. |
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| The idea that the moral worth of an action is determined solely by its usefulness in maximizing utility (pleasure/knowledge/whatever.) |
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| Said that poverty is the result of overpopulation: population increases geometrically, but the food supply increases arithmetically. |
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| Introduced the Iron Law of Wages: the natural wage is that which maintains a worker's subsistence. |
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| One of the early French founders of socialism. Advocated public ownership of factories and a professional managerial class, the technocrats, to run them. |
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| Wrote the Communist Manifesto, which called for radical solutions to the problem of poverty, in 1848, and Das Kapital, first published in 1867, which offers a complete analysis of capitalism. Advocated communism. |
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| Invented the condensing chamber steam engine in 1763. |
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| Wrote The Wealth of Nations, advocating laissez-faire economics, in 1776. |
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