4,995
edits
m (→Economics) |
|||
Line 1,073: | Line 1,073: | ||
<ul><li>{{#tip-text:artisanal republicanism"| the ideal of agricultural-based, independence through self-sufficiency and independent farms}}</ul></li> | <ul><li>{{#tip-text:artisanal republicanism"| the ideal of agricultural-based, independence through self-sufficiency and independent farms}}</ul></li> | ||
* banks | * banks | ||
* cotton gin | * cotton gin| invented by Eli Whitney, the "gin" | ||
<ul><li>{{#tip-text:division of labor| as the economy expanded through growing population, connected markets (roads, canals and, eventually, railroads), the traditional artisanal economy that was self-sufficiency (building everything locally) yielded to specialized labor and skills that were used for only certain aspects of industrial and commercial production; so, rather than one person making a cabinet, multiple sets of workers would specialize in certain aspects of that production (metal or wood, working, painting, etc.); specialized labor, or "division of labor" led to set wages for types of jobs, with low-skilled jobs getting paid the least; the system challenged the Jeffersonian belief in "artisanal republicanism"}}</ul></li> | <ul><li>{{#tip-text:division of labor| as the economy expanded through growing population, connected markets (roads, canals and, eventually, railroads), the traditional artisanal economy that was self-sufficiency (building everything locally) yielded to specialized labor and skills that were used for only certain aspects of industrial and commercial production; so, rather than one person making a cabinet, multiple sets of workers would specialize in certain aspects of that production (metal or wood, working, painting, etc.); specialized labor, or "division of labor" led to set wages for types of jobs, with low-skilled jobs getting paid the least; the system challenged the Jeffersonian belief in "artisanal republicanism"}}</ul></li> | ||
<ul><li>{{#tip-text:Erie Canal | started in 1817 by the state of New York, connected the Hudson River with Lake Erie, thus joining New York City and its coastal and ocean trade networks to the Midwest, which provided markets for industrial goods, raw materials for factories, and movement of people and ideas; the Erie canal was a huge investment, thus needed financing from the state and its banking partners; the canal's economic importance is tremendous, although it and other canals were eclipsed by railroads due to the faster speed of railroads and their geographic flexibility; note that river-transportation is more efficient than on canals, especially with steamboats (that can move upstream), so rivers remain significant carriers of commercial traffic today}}</ul></li> | <ul><li>{{#tip-text:Erie Canal | started in 1817 by the state of New York, connected the Hudson River with Lake Erie, thus joining New York City and its coastal and ocean trade networks to the Midwest, which provided markets for industrial goods, raw materials for factories, and movement of people and ideas; the Erie canal was a huge investment, thus needed financing from the state and its banking partners; the canal's economic importance is tremendous, although it and other canals were eclipsed by railroads due to the faster speed of railroads and their geographic flexibility; note that river-transportation is more efficient than on canals, especially with steamboats (that can move upstream), so rivers remain significant carriers of commercial traffic today}}</ul></li> | ||
Line 1,088: | Line 1,088: | ||
<ul><li>{{#tip-text:middling class| 19th century term for what today we call the "middle class"; made up of farmers, artisans, mechanics, merchants, surveyors, lawyers, the "middling class" constituted about 30% of antebellum society; as these professions prospered, the middling class became important parts of the overall economy for production and consumption, especially of consumer goods, houses, carriages, etc.}}</ul></li> | <ul><li>{{#tip-text:middling class| 19th century term for what today we call the "middle class"; made up of farmers, artisans, mechanics, merchants, surveyors, lawyers, the "middling class" constituted about 30% of antebellum society; as these professions prospered, the middling class became important parts of the overall economy for production and consumption, especially of consumer goods, houses, carriages, etc.}}</ul></li> | ||
<ul><li>{{#tip-text:self-made man| a term for someone who rises from poverty or the working class to build his own business or profession; the "self-made man" was a democratic ideal of the idea that all men are created equal and can thus be whatever they want to be}}</ul></li> | <ul><li>{{#tip-text:self-made man| a term for someone who rises from poverty or the working class to build his own business or profession; the "self-made man" was a democratic ideal of the idea that all men are created equal and can thus be whatever they want to be}}</ul></li> | ||
<ul><li>{{#tip-text:Samuel Sellars & Sellers family| Philadelphia industrialists who invented a machine to produce yarn, then created mills and machines to mass produce leather, paper, and wire, and, ultimately, railroad locomotives; the family helped found the Franklin Institute in Philadelphia that published technical papers, provided instructions for teaching math and science, and organized exhibits of industrial products and technologies}}</ul></li> | |||
<ul><li>{{#tip-text:Samuel Slater| English mechanic who in 1789 immigrated to the United States, bringing with him textile machinery and manufacturing techniques that were adopted by cotton mills in Rhode Island and, alter, elsewhere; Slater's importance, along with Francis Lowell, who also brought British industrial techniques to the US, is that he helped American factories compete with those of the British}}</ul></il> | <ul><li>{{#tip-text:Samuel Slater| English mechanic who in 1789 immigrated to the United States, bringing with him textile machinery and manufacturing techniques that were adopted by cotton mills in Rhode Island and, alter, elsewhere; Slater's importance, along with Francis Lowell, who also brought British industrial techniques to the US, is that he helped American factories compete with those of the British}}</ul></il> | ||
* stock market | * stock market |