Industrialization and Urbanization

Middle class members were merchants, factory owners, inventors, skilled artisans, or professionals.

• Diverse occupations characterized the middle class.

• Middle class members were primarily farmers.

• Middle class members had no formal education.

• Middle class members were exclusively artists.

Adam Smith's contribution to laissez-faire economics.

• He argued that the free market would eventually benefit everyone and shared his ideas in "The Wealth of Nations" in 1776.

• He believed that government intervention was necessary to regulate the economy.

• He proposed that monopolies should be encouraged to foster competition.

• He suggested that trade should be limited to protect local industries.

Malthus' solution to population growth.

• Encouraging families to have more children.

• Urging families to have fewer children.

• Promoting technological advancements in agriculture.

• Advocating for immigration to balance population.

The Sadler Report.

• Contained firsthand accounts of harsh conditions for child workers.

• Described the benefits of child labor in factories.

• Provided statistics on child employment rates in the 19th century.

• Outlined the history of child labor laws in the United States.

Cities grew around factories in previously quiet market towns.

• Industrial growth reshaped local economies.

• Market towns remained unchanged.

• Factories had no impact on local economies.

• Cities were built for agricultural purposes.

Ricardo's "Iron Law of Wages."

• When wages were high, people had more children, increasing labor supply and driving wages down.

• Higher wages lead to a decrease in the labor supply as people choose leisure over work.

• Wages are determined solely by the demand for labor, regardless of supply.

• Increased wages result in a permanent rise in living standards for workers.

Utilitarians' argument for government intervention.

• Some economists began to argue for government intervention, known as utilitarians.

• Utilitarians believe that government should not interfere in the economy.

• Government intervention is only justified in cases of market failure according to utilitarians.

• Utilitarians argue that all economic decisions should be made by private individuals.

Family dependence on child salaries.

• Families relied on children's earnings for survival.

• Children were not allowed to work until they were adults.

• Families preferred to have only one working member.

• Child labor was banned in all countries.

Children's work in textile mills.

• Children operated heavy machinery and managed production schedules.

• Children changed spools or repaired machines, often breathing in dust.

• Children designed patterns and created textiles for fashion shows.

• Children sold finished products in local markets.

Factory work made life harder for women.

• Women worked 12 or more hours a day and still had to care for their homes and families.

• Factory work provided women with more leisure time.

• Women were paid equally to men for the same work.

• Factory work allowed women to pursue higher education.