INDUSTRIAL REVOLUTION AND THE EMERGENCE OF CAPITALISM

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Industrial revolution AND THE EMERGENCE OF CAPITALISM

The Industrial Revolution refers to the greatly increased output of machine-made goods that began in England during the 18th century. Before the Industrial Revolution, people wove textiles by hand. Beginning in the middle 1700s, machines did this and other jobs as well. The Industrial Revolution started in England and soon spread to Continental Europe and North America. It brought economic changes which took place in the eighteenth and the nineteenth centuries and completely transformed the European Society. The Industrial Revolution brought about two main changes, viz. it replaced the domestic system by factory system and small scale production by mass production.

The Scientific & Technological Innovations, which made the Revolution Possible

Steam Power: The invention of the use of steam was one of the most revolutionary discoveries which greatly facilitated the adoption of the machine methods of production. Prior to the discovery of the system power also machines were in use, but the progress was rather slow due to lack of good motive power. These machines were worked on water or wind-power

Iron and Steel: The introduction of steam-driven machinery also made it desirable that the wood machinery should be replaced by machinery made of some durable material, and thus usage of iron was a natural development. But as iron was not available in sufficient quantity an effort was made to increase its production through the use of cocking process. In 1829 Nelson invented a hot blast which made the use of raw coal, instead of coke, possible for the manufacture of iron. This invention greatly helped the Growth of iron Industry of Clyde.

Development of Coal Industry: The increasing use of steam power and iron and steel necessitated the development of coal industry. In fact the coal and the iron are the two foundations of the modern industrial society and a country lacking in either stands at a disadvantage.

Changes in Means of Communication: Between 1800 and 1820 about 200 miles of rail lines were in operation in Britain. They were mainly used to carry raw material. Efforts were also made to bring improvements in road and inland waterways. As a result of all these changes Britain came to have thousand of good roads which greatly reduced the transportation cost.

Textile Industry: By 1800, several major inventions had modernized the Cotton industry. In the process one invention led to another.

Improvements in Engineering Techniques: The mechanical engineers particularly played an important role in the improvement of machinery as well as its efficient use. They made use of iron and steel in place of wood to create complex machinery.

IMPACT OF INDUSTRIAL REVOLUTION

Industrial revolution led to the rise of industrial capitalism and finance capitalism. Before the industrial revolution goods were produced at home with the help of simple and cheap tools which did not need much capital. But with the installation of big machines huge funds were needed and a class of capitalist made its appearance. However, with the passage of time the industrial operations grew still more complex and enormous funds were needed which could not be provided by the capitalists from their individual Resources. Therefore, they began to look towards Investment bankers for these funds. This ushered in era of Finance Capital. Though the industrial revolution was majorly an economic phenomenon, it greatly affected the social and political life of the countries it was prevalent in.

Social Impacts: In the special sphere also the industrial revolution produced far-reaching consequences. In the first place, the growth of factory system resulted in the growth of new cities. Workers shifted to places near the factories where they were employed. This resulted in the growth of a number of new cities like Leeds, Manchester, Burmingham and Sheffield in Britain, which soon became the centres of industry, Trade and Commerce. Secondly, the rise of cities was accompanied by the growth of slums. Before the advent of industrial revolution, the industry was scattered throughout the country. Artisans generally worked in their cottages or shops and were not entirely dependent on trade for their livelihood. They often combined manufacturing and agriculture.

Political Impact: In the political sphere also the industrial revolution had manifold impact. In the first place it led to colonization of Asia and Africa. Great Britain and other industrial countries of Europe began to look for new colonies which could supply them the necessary raw materials for feeding their industries and also serve as ready market for their finished industrial products. Therefore, the industrial countries carved out extensive colonial empires in the nineteenth century. In fact these countries added so much territory to their empire that one historian has described it as "the greatest land grab movement in the History of the world." It is well known that colonialism produced adverse effects on the local people and resulted in their uthless exploitation. However, it cannot be denied that it also paved the way for the industrialization of these territories because the European colonizers set up certain industries in these areas.

Industrial Revolution and Capitalism

Industrialization led to the decline of feudalism in Europe. A new system of society called Capitalism arose in its place. It was an economic system in which the means of production and distribution were privately owned and operated for profit. This system gave rise to two new Social Classes one was that of the factory owners who owned the factories and employed and paid wages to factory workers. They also controlled the sale of goods and their main aim was to make maximum profits. They controlled the sale of goods and their main aim was to make maximum profits. They controlled the 'capital' or the Money and, hence, were called capitalists. They were a prosperous group of people and led luxurious lives. The other class comprised of workers who worked in factories. They lived in great hardship and were exploited by the factory owners. Imperialism is the policy of extending political and economic control over a weak country by a powerful one. The phenomena gained strength in the nineteenth century AD, largely due to the Industrial Revolution. A market for manufactured goods and sources for obtaining cheap raw materials for producing more goods were desperately needed. Areas to invest surplus capital were also required. This led the European nations to acquire colonies in the politically and militarily weak countries of Asia and Africa. These countries could easily be conquered by the powerful Europeans. They provided a good opportunity for the investment of surplus capital. Besides, Asia and Africa were well provided with Natural Resources and had a huge potential to absorb finished goods.

The Industrial Revolution was a mixed blessing. It had both advantages and disadvantages.

Advantages:

Centre of economic life shifted from the villages to cities and towns where the factories were situated.
Urban (cities) and rural (villages) life became dependant upon one another. Isolated life of self-sufficient villages came to an end.
Men became free to develop their capabilities in areas other than farming.
It brought countries and people together. There was an international awareness among people because developments in one country influenced the others.
The aristocracy and nobility with their feudal ideas were replaced by the newly rich middle class capitalists (bourgeoisie) who also became politically powerful.
Better transport, communications and mechanized goods made life comfortable for man.

Disadvantages.

Cities became crowded, smoky, with problems of slums, housing, sanitation, accidents and epidemics.
Women and Child Labour was badly exploited.
Workers suffered from long working hours, low wages, and Unemployment, unsafe conditions of work, with no rights to vote strike or form Trade Unions.
Society, became divided into rich and poor, the 'Haves' and the 'Have- Nots'.
It led to wars of imperialism and colonization.

The Industrial Revolution was a period of rapid economic and Social Change that began in Great Britain in the late 18th century and spread to other parts of Europe and North America in the 19th century. The Industrial Revolution was characterized by the development of new technologies, such as the steam engine and the power loom, which led to the rise of factories and mass production. The Industrial Revolution also led to the growth of cities and the emergence of a new social class, the working class.

The emergence of capitalism is another closely related topic. Capitalism is an economic system based on the private ownership of capital and the means of production. Capitalism is characterized by the free market, in which businesses compete with each other to sell goods and Services. The emergence of capitalism was closely linked to the Industrial Revolution, as the new technologies and factories of the Industrial Revolution created a need for capital investment.

The Industrial Revolution and the emergence of capitalism have had a profound impact on the world. They have led to economic growth, Technological Progress, and social change. However, they have also led to problems such as pollution, inequality, and exploitation.

The following are some of the subtopics related to the Industrial Revolution and the emergence of capitalism:

The causes of the Industrial Revolution
The effects of the Industrial Revolution
The social impact of the Industrial Revolution
The environmental impact of the Industrial Revolution
The technological advances of the Industrial Revolution
The rise of factories and mass production
The growth of cities and the emergence of the working class
The emergence of capitalism
The free market
Capital investment
Economic growth
Technological progress
Social change
Pollution
Inequality
Exploitation

The causes of the Industrial Revolution are complex and still debated by historians. However, some of the factors that are thought to have contributed to the Industrial Revolution include:

The rise of mercantilism, an economic system in which governments sought to increase their wealth and power by controlling trade and industry.
The accumulation of capital, which was necessary to invest in new technologies and factories.
The development of new technologies, such as the steam engine and the power loom, which made mass production possible.
The availability of natural resources, such as coal and iron Ore, which were essential for the Industrial Revolution.
The growth of Population, which provided a labor force for the factories.
The emergence of a middle class, which had the money to buy the goods produced by the factories.

The effects of the Industrial Revolution were far-reaching and continue to be felt today. Some of the positive effects of the Industrial Revolution include:

Economic growth: The Industrial Revolution led to a dramatic increase in the production of goods and services. This led to economic growth and higher standards of living for many people.
Technological progress: The Industrial Revolution led to the development of new technologies, such as the steam engine and the power loom, which had a profound impact on the way people lived and worked.
Social change: The Industrial Revolution led to the growth of cities and the emergence of a new social class, the working class. This led to social change as people adapted to new ways of life.

However, the Industrial Revolution also had some negative effects, including:

Pollution: The Industrial Revolution led to the pollution of air, water, and land. This pollution had a negative impact on human Health and the Environment.
Inequality: The Industrial Revolution led to an increase in inequality, as the wealthy benefited from the new technologies while the poor often suffered.
Exploitation: The Industrial Revolution led to the exploitation of workers, who often worked long hours in dangerous conditions for low wages.

The Industrial Revolution and the emergence of capitalism have had a profound impact on the world. They have led to economic growth, technological progress, and social change. However, they have also led to problems such as pollution, inequality, and exploitation.

What is the Industrial Revolution?

The Industrial Revolution was a period of time when people began to use machines to do work that had previously been done by hand. This led to a number of changes in society, including the rise of factories, the growth of cities, and the development of new technologies.

What are the causes of the Industrial Revolution?

There are a number of factors that contributed to the Industrial Revolution, including the invention of new machines, the discovery of new sources of energy, and the growth of trade.

What are the effects of the Industrial Revolution?

The Industrial Revolution had a number of effects on society, including the rise of a new middle class, the growth of cities, and the development of new technologies.

What is capitalism?

Capitalism is an economic system in which the means of production are privately owned and operated for profit.

What are the characteristics of capitalism?

Capitalism is characterized by private ownership of property, freedom of enterprise, and competition.

What are the benefits of capitalism?

Capitalism has been credited with a number of benefits, including economic growth, innovation, and individual freedom.

What are the drawbacks of capitalism?

Capitalism has also been criticized for a number of drawbacks, including inequality, environmental damage, and exploitation.

What is the future of capitalism?

The future of capitalism is uncertain. Some people believe that capitalism will continue to be the dominant economic system, while others believe that it will be replaced by a different system, such as Socialism or Communism.

What is the relationship between the Industrial Revolution and the emergence of capitalism?

The Industrial Revolution and the emergence of capitalism are closely linked. The Industrial Revolution led to the development of new technologies and the growth of factories, which in turn led to the rise of a new middle class and the growth of cities. These changes created a demand for new goods and services, which in turn led to the development of new businesses and industries. This process of economic growth and development is often referred to as capitalism.

The Industrial Revolution was a period of great change in the way people lived and worked. It began in Great Britain in the late 18th century and spread to other parts of Europe and North America. The Industrial Revolution was characterized by the development of new technologies, such as the steam engine, the spinning jenny, and the power loom, which led to the rise of factories and mass production. The Industrial Revolution also led to the growth of cities and the emergence of a new social class, the working class.

The Industrial Revolution had a profound impact on society. It led to an increase in the standard of living for many people, but it also created new problems, such as pollution, child labor, and dangerous working conditions. The Industrial Revolution also had a major impact on the environment. The burning of coal and other fossil fuels released large amounts of pollution into the air, which contributed to Climate change.

The Industrial Revolution was a time of great change, and it continues to have an impact on the world today. The technologies that were developed during the Industrial Revolution are still used today, and the social and environmental problems that were created during the Industrial Revolution are still being addressed.

Here are some MCQs about the Industrial Revolution:

Which of the following is not a characteristic of the Industrial Revolution?
(A) The development of new technologies
(B) The rise of factories and mass production
(C) The growth of cities
(D) The decline of the working class
The Industrial Revolution led to an increase in the standard of living for many people. True or False?
The Industrial Revolution also created new problems, such as pollution, child labor, and dangerous working conditions. True or False?
The Industrial Revolution had a major impact on the environment. True or False?
The technologies that were developed during the Industrial Revolution are still used today. True or False?
The social and environmental problems that were created during the Industrial Revolution are still being addressed. True or False?

Answers:
1. (D)
2. True
3. True
4. True
5. True
6. True