Chapter 21 Section 3
New Ideas in a New Society
The Industrial Revolution inspired new ideas about _______________ and affected society in many ways.
• What new ideas about economics developed during the Industrial Revolution?
• What _______________ economic ideas arose as a result?
• How did the Industrial Revolution affect _______________?
New Ideas about Economics
Capitalism and Competition
• Old mercantile system restricted trade
• Adam Smith, _______________ economy
• Thomas Malthus, _______________
• Industrialization _______________ and
New Roles for Business Leaders
• Shift in _______________ and power
• Banking and finance
• Andrew _______________, rags to riches
• _______________ barons
What were some of the new ideas about economics?
• Answer: _______________ gave way to _______________ and competition, laissez-faire
economics and The Wealth of Nations allowed for increased role of entrepreneur
Competing Economic Views
Not everyone agreed that laissez-faire capitalism was good. Two who took a different stance were Robert
Owen and Karl Marx.
• More hopeful than Malthus
– Society owns property
– Society controls business
• Model industrial town
• New _______________
• _______________ democracy
• More _______________ socialism
• Predicted collapse of capitalism
– owns means of _______________
– controls economic planning
Why did capitalism provoke strong response from the socialists?
Answer: Socialists blamed capitalism for harsh working conditions, _______________ cities, and
the big gaps between rich and poor.
Effects on Society
The rise of new _______________ ideas was among the countless effects of the Industrial Revolution.
The shift away from _______________industries also affected _______________ life and the roles of
women in society.
• Worlds of work
• “Separate spheres”
• Business worldwithout
guidance at home
• Industry-great power
• Control of other
• Industrialization of
• Period of
• Increase in _______________
• Standard of living
• _______________ time
• Changes to many aspects of life:
Effects of Industrialization on Women
Women Who went from _______________ industries to Factory Work
Earned low wages in low-skill jobs
_______________ from their families
No real improvement in their _______________
Other Working-Class Women
Found jobs as _______________, _______________, and child-care workers because more
families could afford to hire them
Found some new _______________ and cultural opportunities in cities
Overall _______________ for many women
Freed from _______________ because many could afford to hire domestic help[p
Began to attend college and get jobs as _______________ and nurses
Those who did work were often _______________ by people who said they should not work
outside the home
Most affected by ideas of _______________ spheres
Identify Cause and Effect
What were some of the major effects _______________ had on families and countries?
Answer: families—wealth, leisure time, _______________; countries—_______________,
wealth, and living standards; _______________g of cities, pollution, rapid population