What are some good qualities of an entrepreneur? Who is an entrepreneur you know of?

When the coin in the coffer rings, the soul from Purgatory springs. This jingle was most likely spoken by?: a) Johannes Tetzel.

b) Martin Luther.c) John Calvin.d) John Knox.e) Sir Thomas More.

• Usually young men, middle class• Typically of the

Protestant Work Ethic• Used capital from

the Bank of England – (gov’t)

Resources from colonial areas for a mother country is called ______________________

• Why would government in England aid industrial development as opposed to Russia or France?

• House of Commons favored industrialism – Bubble Act repealed -return of joint-stock co.– Lowes Act - limited liability for businesses (LLC)– Metallurgy businesses increase - why?• England = #1 textile producer

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• Steam Engine --> transition from wood to coal

• Invented by Thomas Savory and Thomas Newcomen

• James Watt = first efficient steam engine

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• Coal mining + steam engine = heavy industry of iron and more machines

• Henry Cort - puddling furnace

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“Transportation Revolution”

• Canal systems made

• John McAdam - what does he invent?

• Robert Fulton’s Steamboat (1807)

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Railroad

• 1803 - “Steam Wagon”

• 1825 - First true locomotive– What does it

do? What are the benefits?

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By 1850...

• Great britain makes 2/3 world’s coal, 1/2 world’s iron, GNP rises 350%, income increases 100%

• Holds industrial fair at Crystal Palace

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http://www.youtube.com/watch?v=HIMcPj_JkZI