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The Industrial Revolution Economically
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== <span style="color: #FFFFFF;">Remembering</span> == * '''The Industrial Revolution''' β The transition to new manufacturing processes in Europe and the US, occurring from about 1760 to 1840. * '''The Steam Engine''' (James Watt) β The "Engine of Change": it allowed factories to be "Located anywhere," not just by "Rivers." * '''The Factory System''' β The "Organization of Labor" into a "Single Building" with "Machines" and "Standardized Work Hours." * '''The Great Divergence''' β The process by which the "Western World" became "Much richer" than the "Eastern World" (China/India) during the 1800s. * '''Urbanization''' β The "Mass Movement" of people from "Farms" to "Cities" (e.g., 'Manchester' or 'Chicago'). * '''Mass Production''' β The "Manufacturing" of large quantities of "Standardized Products" using "Assembly Lines." * '''Capitalism''' β An economic system based on "Private Ownership" and the "Re-investment" of profit into "More Machines." * '''The Railway''' β The "Speed of Trade": it linked "Cities" and "Ports," creating a "Global Market" for the first time. * '''Coal''' β The "Energy Source" of the revolution: the "Sunlight of the Past" buried in the earth. * '''Adam Smith''' β Author of "The Wealth of Nations" (1776), the first "Guidebook" to how the new industrial economy worked. </div> <div style="background-color: #006400; color: #FFFFFF; padding: 20px; border-radius: 8px; margin-bottom: 15px;">
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