Do Now

1. Do Now What is the smallest country in the world and where on the map would you find it? The leader was actually in the news over the weekend. You may look at the map on the wall, but please do not share ideas with one another. Answer – The Vatican (Vatican City) which located within the city of Rome.

2. Due today Re-read section 4, Reforming the Industrial World pages 734 to 736, stopping at Marxism: Radical Socialism

3. Review • So rather than a small company like a family run business, these were corporations run by a group of investors. • Who was John Rockefeller and why was he important? • Standard Oil – John Rockefeller and Carnegie Steel – Andrew Carnegie, dominated the landscape. • Their companies seemed to be in every aspect of society. They held a great power in the country. • Workers in these corporations were paid very low wages, while the stock holders earned huge profits.

4. New Stuff • In Europe, the Industrial Revolution stalled because of the French Revolution and Napoleonic Wars. • But there was progress made. First country to embrace the advancements from England was Belgium. • Belgium was rich in natural resources. They too had “borrowed” the technology from the British and established a major spinning production company. • The Germans took longer partly because the country as we know today was divided into several regions. They took English technology and they sent their young adults to England to be educated.

5. New Stuff • The Industrial Revolution has many “unintended consequences.” Explain the term • Factors that were never considered that typically are negative effects. • The Industrial Revolution widened the gap of those countries industrialized (wealthy) and those non-industrialized (typically poor). • Countries needed raw materials (resources) and the more powerful nations began to colonize the non-industrialized nations. On top of grabbing resources from these nations, but then the empires turned around to sell their products to these non-industrialized nations / colonies.

6. New Stuff • Countries such as England (the most aggressive), France, Germany (although later), Russia, Japan. Sought to build their empires to continue their economical growth. The term is called Imperialism • Between 1700 to 1900 the Industrial Revolution enabled European nations (and the US) to gain enormous wealth and power, often at the expense of Asian & African nations. Although many years ago, this is still a painful point for many of those nations. • For example – Afghanistan and Iran. • Even with all the negatives of the Industrial Revolution, people’s wealth grew and they lived longer due to innovations in health care.

7. New Stuff • The increase in wealth & health really helped the rising “middle class”. • Improvement in education (in many cases schooling became mandatory), increased in democracy. This increase in democracy allowed social reforms to happen. For example, the Boston Irish voted as a block and then gained access to politicians which allowed them to demand improvement in living, and working conditions.

8. New Stuff • How do Unions work? • The unions work as a group to negotiate better contracts (pay raises) and better working conditions • What are strikes? • Strikes are an attempt to stop work and force the management to bargain. If not a good deal then the company cannot produce any products. • What is socialism? • Any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods

9. New Stuff • How and why did Socialism emerge? • What is “Laissez-faire”? • Basically, allow things to go without much (if any governmental interference. • So industry leaders (Rockefeller and Carnegie types) would do as they pleased. The thought being if the economy were strong and everyone was employed things must be good. • Who is Adam Smith? • Economist