Question

In: Economics

what were three main perspectives on this historical event and explain how the industrial revolution was...

what were three main perspectives on this historical event and explain how the industrial revolution was influential from each perspective

Solutions

Expert Solution

The three main perspective of this historical events were:

  1. Transportation.
  2. Communication.
  3. Banking.

1) TRANSPORTATION IN INDUSTRIAL REVOLUTION

Britain's road network, which has been relatively primitive prior to industrialization, soon saw substantial improvements, and more than 2,000 miles of canals were in use across britian by 1815. In the early 1800s, Richard trevithick debuted a steam-powered locomotive, and in 1830 similar locomotive started transporting freights ( and passengers) between the idustrial hubs of manchester and liverpool. This was a main reason for industrial revolution to influence in Britain.

2) COMMUNICATION IN INDUSTRIAL REVOLUTION

The latter part of the Industrial Revolution also saw key advances in communication methods, as people increasingly saw the need to communicate efficiently over long distance. In 1837, British inventors William Cooke and Charles Wheatstone patented the first commercial telegraph system, even as Samuel morse and other inventors worked on their own versions in the United States. This was also a main historical event for industrial revolution.

3) BANKING IN INDUSTRIAL REVOLUTION

Banking and Industrial financiers rose to new prominents during the period, as well as factory system dependent on owners and managers. A stock exchange was established in London in the 1770s; the New York Stock Exchange was founded in the early 1790's. This was also the main reason for Industrial revolution.

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