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| 5801762065 | Market capitalism: | the transformation from medieval manorialism was characteristic of the transformation to modern Europe; usually associated with Italy (think: Northern Italian city states and Renaissance) and western Europe in early modern Europe; the areas that transformed from serf labor to free wage labor prospered and advanced technologically. | 0 | |
| 5801762066 | 1848 Revolution and Louis Blanc's "National Workshops" in France | the 1848 Revolutions was a response to horrible economy of the 1840's caused by Potato Famine and economic depression; in response, the unemployed were given "public works" jobs by the government in 1848 France before the bourgeoisie became scared by the growing organization of the proletariat and demanded the disbanding of the National Workshops or government public works jobs during economic depression. The socialist overtones of Louis Blanc's government jobs programs scared the industrialists and bourgeoisie who preferred "laissez-faire" of Adam Smith. | 1 | |
| 5801762067 | IN 1846, the mercantilist Corn Law tariff policy was revoked by Parliament: | the rise in influence of Industrialists in British Parliament after they gained right to vote and become members of Parliament after the reforms of the 1832 Great Reform Bill (which was in itself a response to the 1830 Revolutions on the continent); 1832 Great Reform Bill gave growing cities more "representation" even if working classes did not gain suffrage; the British Parliament reforms while maintaining the disproportionate political power of the landed aristocracy in Britain. | 2 | |
| 5801762068 | 1750's Agrarian Revolution in England and "low countries": | led to the increase yields that lifted the ability to support larger populations associated with the Industrial Revolution, first in Britain, then in Western Europe, then Central in the 19th century after the conclusion of the Napoleonic Wars. | 3 | |
| 5801762069 | Chartists Petitions of 1838-1848: | English proletariat (urban working class) organized through the Chartist Petitions and the fear of revolution in England led the Duke of Wellington (remember 1815 Waterloo) to have Queen Victoria leave London to go to the summer residence; the Chartist presented their petition; the Chartists do not gain victory in 1848 on voting rights; but, the Chartists would eventually win out after a long and complex struggle for industrial workers to gain the suffrage, but not for another 70 years; the English working classes were past the "startup stage" of the Industrial Revolution and wore "hats". | 4 | |
| 5801762070 | England Escapes The Whirlpool of Revolution" in 1848: | Reform from above meant the 1830's Factory and Mines Act and the 1846 Repeal of the Corn Laws showing English Parliament's willingness to "let steam out" by granting small incremental reforms that would help the British proletariat and helped to avert an 1848 Revolution in England. | 5 | |
| 5801762071 | Nationalism of 1848 Becomes Militarized: | realpolitik" links Cavour and Bismarck to engage in wars of unification after failure of Utopian Romantic Nationalism in 1848 to bring national unification. | 6 | |
| 5801762072 | 1848 Revolutions: economy, politics, society; | Economic—"Hungry 1840's"; Political---lack of reform in the Era of Metternich, reactionary repression results in Revolution; Society---burgeoining bourgeoisie challenge the aristocracy/monarchy for political supremacy in the mid-19th century. | 7 | |
| 5801762073 | The Hungry 1840's: | the Potato Famine and financial economic recession hurt food supplies and wages; "Bread Riots" became common | 8 | |
| 5801762074 | 1846 Repeal of Corn Laws: | marks a victory for the Industrial Capitalists in British Parliament in favor of "free trade" over the next fifty years. "Reform from above rather than suffer revolution from below." | 9 | |
| 5801762075 | Radical phase of French Revolution and birth of socialism: | during the "radical phase" of the French Revolution, the government dominated by the Committee of Public Safety used price controls and rent controls or government intervention; requisitioned items to support the army; these are attempts at greater government control over the economy or the path toward a more "socialist" government regulated economy. | 10 | |
| 5801762076 | "Manchester School" of economics: | this was not an actual school or university, but a school of thought associated with the big businesses like those found in the rapidly growing industrial cities in England, like "Manchester" in England; this was usually "laissez-faire" thinking and anti-labor union and anti-socialist. | 11 | |
| 5801762077 | David Ricardo: also part of the "Manchester School" of economic thinking or "classical economists"; | Ricardo's "Iron Law of Wages"—if the employer increases wages, then the employee will use these wages to support larger families that will lead to an oversupply of labor and then a reduction of wages; this was loved by businessmen who used this as a reason to keep wages at "subsistence levels". | 12 | |
| 5801762078 | Thomas Malthus: | classical economist" of "Manchester School" of economics; "laissez-faire" and anti-socialist; pro-big business; believed in the need to deal with growing population and predicted the Malthusian nightmare—population would grow faster than food production resulting in famine; Malthus's prediction seemed to prove true in the "Hungry 1840's", but never again did Western Europe suffer from a famine that was not man-made (read: war caused). Other areas of the world do suffer from the Malthusian nightmare, but the Scientific Agrarian Revolution helped to feed Europe, as did imports of food! | 13 | |
| 5801762079 | Adam Smith: | author of "Wealth of Nations" in 1776; Enlightenment philosopher critical of mercantilism and protectionism; in favor of "laissez-faire" in domestic economy; in favor of "free trade" in foreign affairs; against monopolies and government choosing "winners and losers" through subsidies; hated tariffs; opposed to restricting trade of colonies; believed in the "INVISIBLE HAND" or the "natural hand" of "supply and demand" to guide economic choices; LET IT BE or "laissez-faire" is associated with Adam Smith, albeit with caveats (he didn't oppose all regulation, especially on banks and was not an ideologue). | 14 | |
| 5801762080 | Jean Baptiste Colbert and 1651 English Navigation Acts: | examples of mercantilism; French Colbert, Louis XIV's mercantilist advisor in 17th century; 1651 Cromwell begins a trade war with the Netherlands by insisting in Navigation Acts that Britain ship its goods on British ships. | 15 | |
| 5801762081 | Market Capitalism and Commercial Revolution, Scientific Revolution, Agricultural Revolution and Industrial Revolution: | the link must be understood; market capitalism led to the Commercial Revolution, especially under Atlantic Powers; the growth in wealth, trade, banking, insurance agencies, and profit motives led to the ability to invest in new technologies and universities (think: Royal Academies and the growth of universities); the Scientific Revolution led directly to the Agrarian Revolution. And, without the Agrarian Revolution to feed to increased population living in cities, you cannot have the Industrial Revolution. And, you all remember that graph showing the growth of wealth in Europe compared with Asia that resulted from the Industrial Revolution. | 16 | |
| 5801762082 | Enclosure Acts in England, especially after Landed Gentry (landed aristocrats) took 1688 Parliament: | this was the process of transforming England from the more medieval open field system of communal landholding toward the "fencing" or "enclosing" lands owned by a single owner; incredibly controversial, as "MARXIST" historians look at this as the wealthy landowners "confiscating" lands through Parliamentary Act; the effect of this was to create a landless class of laborers who worked on bigger "for profit" farming ventures and the movement away from subsistence agriculture; increased the efficiency of the agricultural system compared to communal agriculture. The closed field was more productive than the open field system. | 17 | |
| 5801762083 | European Agricultural Revolution of 18th century: | the massive increase in agricultural productivity associated with the 18th century in England and the "Low Countries" followed by the rest of Western Europe; this was a prerequisite for the Industrial Revolution; caused by advances in science associated with the Scientific Revolution; massive increase in yields per acre and a decreased need for labor in the countryside led to the incentives that helped produce the Industrial Revolution; supported growth in population to move to the cities to fuel the Industrial Revolution. The following is a good primer on the causes of Industrial Revolution--http://webs.bcp.org/sites/vcleary/ModernWorldHistoryTextbook/IndustrialRevolution/IRbegins.html | 18 |
