As a group, you must create a written response to the following:
As a group, you must choose one of the following creative products:
**Each group member will submit a Google Doc that has their written requirement on the first page and a link to their creative product on the second page to Canvas!**
Examples of London sites you can include:
As a moderately wealthy businessman living in London, you are always on the lookout for new economic opportunities. You notice there is a market for cotton textile clothing in India, the crown jewel of British colonies. Getting a loan from the Bank of England, you begin to buy up large quantities of cotton to spin into wool for clothes. You then “put out” your cotton to local tenant farmers who spin it into clothes for you with their families.
Entrepreneur key terms:
-Putting-out system
-capital
-joint-stock companies
“Putting out” raw materials to farmers to work on in their own homes proves to be inefficient. Taking out another loan from the Bank of England, you purchase a large warehouse and a powerful water frame to create a textile mill. You then begin to hire newly landless tenant farmers from the countryside to work in your mill. You find that your new labor force is unaccustomed to rigid work schedules, so you create a list of restrictive rules and penalties docking pay for workers who violate them.
Factory owner key terms:
-Water frame
-power loom
-Richard Arkwright
Your little textile mill has grown into a profitable factory enterprise over the past few decades, and has passed down in ownership from father to son. With the wealth your business has brought you, you now have the opportunity to move into the English peerage system, buying up land in the countryside and titles of nobility from Queen Victoria herself! Recent reforms undertaken by the British government have even enabled you to participate in elections and run for the House of Commons!
Bourgeoisie key terms:
-Great Exhibition of 1851
-Reform Act of 1832
-Factory Act of 1833
