Industrial Revolution

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legalizing trade unions, setting minimum wages, and limiting child labor

Natural Harbors Natural Resources (coal) Colonies for raw materials Access to Worldwide Markets

Belief that the government and business owners had a responsibility to improve the lives of the workers during the Industrial Revolution by passing laws and regulations to improve their quality of life

Capitalists will never change Need violent overthrow of capitalism Developed in response to -child labor, low wages, long hours, dangerous conditions Support the Labor Theory of Value

the process of making something more mechanical or automatic by introducing machines

(1818-1883) a German political philosopher and economist who founded modern socialism and wrote The Communist Manifesto with Friedrich Engels

the period in which the production of goods shifted from hand production methods to complex machines. This period of industrialization resulted in social and economic changes. The Industrial Revolution started in Great Britain around 1750. The proces

Supply and demand should determine prices Limit government involvement in business Increased wealth and power of Industrial Leaders