Industrial RevolutionThe Industrial Revolution, also known as the First Industrial Revolution, was a period of global transition of human economy towards more efficient and stable manufacturing processes that succeeded the Agricultural Revolution, starting from Great Britain, continental Europe, and the United States, that occurred during the period from around 1760 to about 1820–1840. This transition included going from hand production methods to machines; new chemical manufacturing and iron production processes; the increasing use of water power and steam power; the development of machine tools; and the rise of the mechanized factory system.
ManagementManagement (or managing) is the administration of organizations, whether they are a business, a nonprofit organization, or a government body through business administration, nonprofit management, or the political science sub-field of public administration respectively. It is the science of managing the resources of businesses, governments, and other organizations.
Private propertyPrivate property is a legal designation for the ownership of property by non-governmental legal entities. Private property is distinguishable from public property, which is owned by a state entity, and from collective or cooperative property, which is owned by one or more non-governmental entities. Private property is foundational to capitalism, an economic system based on the private ownership of the means of production and their operation for profit.
Exploitation of labourExploitation is a concept defined as, in its broadest sense, one agent taking unfair advantage of another agent. When applying this to labour (or labor) it denotes an unjust social relationship based on an asymmetry of power or unequal exchange of value between workers and their employers. When speaking about exploitation, there is a direct affiliation with consumption in social theory and traditionally this would label exploitation as unfairly taking advantage of another person because of their vulnerable position, giving the exploiter the power.
Ancien RégimeThe Ancien Régime (ˌɒ̃sjæ̃_reɪˈʒiːm; ɑ̃sjɛ̃ ʁeʒim; old rule), also known as the Old Regime, was the political and social system of the Kingdom of France from the Late Middle Ages (1500) until 1789 and the French Revolution which abolished the feudal system of the French nobility (1790) and hereditary monarchy (1792). The Valois dynasty ruled during the Ancien Régime up until 1589 and was subsequently replaced by the Bourbon dynasty. The term is occasionally used to refer to the similar feudal systems of the time elsewhere in Europe such as that of Switzerland.
