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John Kay improved weaving time with machine
John Kay, a machinist, made a wooden shuttle that sped back and forth on wheels. It had yarn attached to it. This doubled the work a weaver could do in one day. -
James Hargreaves invented the spinning jenny
Hargreaves invented a spinning wheel, which he named after his daughter. It allowed one spinner to work eight threads at once. -
Adam Smith wrote "The Wealth of the Nations"
In this book, Smith defended the idea of a free economy (supporting laissez-faire). He argued that if individuals freely followed their own self-interest, the world would be an orderly and progressive place. -
Adam Smith defends capitalism
In 1776, Adam Smith wrote "The Wealth of the Nations." In it he defended the idea of a free economy (capitalism). Capitalism is the economic system based on private ownership of and on the investment of money in businesses to make a profit. -
Samuel Crompton made spinning mule
Crompton combined features of the spinning jenny and the water frame to produce the spinning mule. It made thread stronger, finer, and more consistent. -
Edmund Cartwright invents the power loom
Run by water power, the power loom sped up weaving even more than latter inventions -
Eli Whitney invented cotton gin
Eli Whitney made a cotton gin which removed seeds from the raw cottonn. It multiplied the amount of cotton that could be cleaned. American cotton production skyrocketed (from 1.5 million lbs in 1790 to 85 million lbs in 1810) -
Thomas Malthus wrote "An Essay on the Principle of Population"
In "An Essay on the Principle of Population," Malthus argued that the population grew faster than the food supply. If war and epidemics don't kill of people, most of the people would be poor and miserable. His theory was found as true during the 1840s, but did not prove to be accurate over time. -
Jeremy Bentham thought of the theory called utilitarianism
Utilitarianism is the theory that government actions are useful only if they promote the greated good for the greatest number of people. Jeremy Bentham is credited with being the "founder" of the theory. Utilitarianists believe that wealthy people and the government should take action to help improve other people's lives. This theory calls for the government to do away with great differences in wealth. -
David Ricardo wrote the "Principles of Political Economy and Taxation"
Ricardo argued that a permanent underclass would always be poor. He also argued that wages would be forced down as the population continued to incread. He opposed government efforts to help poor workers. -
First railroad line opened
George Stephenson created a 27 mile long railroad, stretching from the Yorkshire coalfields to the port of Stockton on the North Sea. It used four locomotives that he had designed and built himself. -
The term "socialism" began to be used by Robert Owen & his supporters
Socialism is an economic system in which the factors of production are owned by the people and operate for the welfare of all. Robert Owens is the man behind the idea, though Karl Markx and Friedrich Engels are generally associated with it. -
British finally abolished slavery in its empire with the help of retired Parliament member, William Wilberforce
William Wilberforce, a highly religous man, continued to fight for the freedom of slaves even after he retired from Parliament. Finally in 1833, Britain abolished slavery, Wilberforce helping all the while. -
Karl Marx published the "Communist Manifesto"
The "Communist Manifesto" did not take hold when it was first published, but rather years later. -
Karl Marx and Frank Engels publish the "Communist Manifesto," citing priniples of communism
Karl Marx and Frank Engel wrote the "Communist Manifesto," which cites the principles and ideas of communism. Communism is an economic system in which all means of production are owned by the people. Private property does not exist and all goods and services are shared equally. -
Brazil finally freed its slaves
It wasn't until after the United States, Britain, Puerto Rico, and Spain ended slavery that Brazil finally decided to also. Brazil had a huge population of slaves which were finally set free. -
Jane Addams and Ellen Starr open the Hull House
The Hull House was opened by Jane Addams and Ellen Starr. This was a settlement house that served the poor residents of slum neighborhoods. Eventually it was expanded to include a nursery, a gym, a kitchen, and a boarding house for working women.
