Industrial Capitalism
Definition
Industrial capitalism refers to an economic system based on industrial production or manufacturing. It emerged during the Industrial Revolution when capitalists were involved in producing and selling goods using mechanized industry.
Analogy
Industrial capitalism is like a giant factory where everyone has a specific job. The more efficiently the factory runs, the more products it can produce and sell, leading to greater profits.
Related terms
Laissez-faire: An economic theory that advocates for minimal government intervention in business affairs beyond what's necessary to maintain peace and property rights.
Industrial Revolution: A period of major industrialization that took place during the late 1700s and early 1800s. It began in Great Britain and later spread throughout other parts of the world.
Entrepreneurship: The activity of setting up a business or businesses, taking on financial risks in the hope of profit.
"Industrial Capitalism" appears in:
Subjects (2)
Study guides (1)
Practice Questions (20+)
What was a primary impact of the Sherman Antitrust Act during the rise of industrial capitalism?
What was a major environmental impact caused by industrial capitalism?
Which socio-economic class grew as a result of industrial capitalism?
What cultural trend emerged as a result of increased urbanization during the period of industrial capitalism?
Which innovation significantly improved manufacturing processes during the era of industrial capitalism?
What was one impact of the introduction of electric light during the rise of industrial capitalism?
What was a major factor contributing to the rise of industrial capitalism in the late 19th century United States?
Which labor organization emerged during the rise of industrial capitalism advocating for an eight-hour workday?
Who primarily benefitted from the wealth generated by industrial capitalism in Gilded Age America?
What concept was used by wealthy industrialists to justify their wealth during the rise of industrial capitalism?
Which innovation had a significant impact on the expansion of industrial capitalism during the late 19th century?
What consequence did the rise of industrial capitalism have on American society?
Which development facilitated by industrial capitalism significantly affected U.S labor practices?
Which 19th-century technological innovation had the greatest impact on fostering industrial capitalism in America?
How did immigration influence the rise of industrial capitalism in late-19th century United States?
What was a continuous driving factor in the rise of industrial capitalism in the United States?
Which principle remained consistent during the rise of industrial capitalism?
What aspect continued to facilitate the growth and development of industrial capitalism throughout this period?
Which principle underpinned persistence or continuity within the rise of Industrial Capitalism?
During this period, what element contributed consistently to the expansion of industrial capitalism?
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