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Industrial Revolution Vocabulary

Capitalism: The trades and industries are controlled by private owners for profit

 

Communism: All property is publicly owned by the government and each person works and is paid based on their abilities and needs

Socialism: The trades and industries owned and controlled by the community

 

Laissez faire: a policy or attitude of letting things take their own course, without interfering.

 

Urbanization: a population shift from rural to urban areas

 

Tenement: block of apartments.

 

Strike: a refusal to work organized by a body of employees as a form of protest

 

Labor union: an organized association of workers formed to protect and further their rights and interests.