In: Economics
Recalling history in a hurry, there have been many turning points that impact the world we live in today. Industrial Revolution is one of them. Just imagine what your life would be if you don't use machines and technology. Just make a list of the machines available in your household and office. Consequently, you would be surprised by the number of machines and technology you use in everyday life. Industrial revolution sparked the way we live today by using machines and technology. Industrial Revolution marked the beginning of this type of lifestyle.
Industrial Revolution is the entire process of tectonic shift from following an agrarian and handicraft economy to one dominated by industry and machine manufacturing. This phenomenon started in Britain in the 18th century and then spread to other parts of the world.
The blend of below-mentioned factors in the late 18th century created force, environment and unique conditions that led to the emergence of the Industrial Revolution starting from the Great Britain.
1. The Agricultural Revolution brought a tectonic increase in food production and consequentially increased population in England first.
2. Further, Population Growth led to the migration of people ( to work for wages) in the new cities. This phenomenon eventually increased demand for products such as clothing.
3. The Scientific Revolution and the era of enlightenment encouraged scholars and craftspeople to implement new scientific thinking to mechanical and technological challenges.
4. Financial Innovations such as emergence of central banks, joint stock companies and stock markets fuelled the Industrial Revolution. As a result, people had access to funds and they took risk by making investments and manufacturing goods and services
5. Abundant availability of Coal and Iron in the Great Britain made possible the development of all new machines from iron or steel. Further availability of coal provided an input to the steam-powered machinery in textile factories, and the locomotive.
6. Navigable Canals and Rivers of Great Britain made the cost of transportation of raw materials and finished products cheaper. Adam Smith, the first modern economist, credited the emergence of the Industrial revolution in his book( An Inquiry into the Nature and Causes of the Wealth of Nations) to “Good roads, canals, and navigable rivers, that decreased the expense of carriage, made it possible to access the remote parts of the country
7. The Cottage Industry led to transition from a rural to an
industrial economy. Cottage industry relied on cloth production,
wage labor, tools and rudimentary machines, and became a market to
buy and sell raw materials (cotton) and finished products
(clothes).
8. Government Policies in the Great Britain (related property
and commerce) encouraged innovation and the spread of global trade.
Banks financed the industrial expansion. Adding further, the
government created Patent laws and implemented them. The British
government provided naval services to British companies so they
would explore the world to find resources.
9. The concept of factory system that uses division of labour and
specialization of work was implemented.
Social, Political and Economic Impact of Industrialisation
Industrial Revolution had a significant impact on Europe. Industrial Revolution changed Europe politically, socially, and economically.
Before the advent of Industrial Revolution, Europe was basically an agrarian society. Most Europeans were farmers and worked in the country. This scenario changed tectonically with the spark of the Industrial Revolution. The entire Production cycle was automated or in other words, work was carried out by machines and demand for human labor decreased. "Spinning Machine" (invented by James Hargreaves in 1764) made it possible to produce more cotton cloth. Further, the invention of the steam engine by James Watt and Matthew Boulton also increased productivity. Subsequently, Steam power was used in power looms. These power looms made possible the work to be done faster and required less labor to produce cloth. However, some practices and style of working remained the same. Human labor was still needed to work in the factories alongside the machines. Moreover, the input materials used to produce the cloth, cotton, was the same. Even after Industrial Revolution, the Great Britain had to import raw cotton from India.
Another significant change due to Industrial Revolution was social importance and respect of women. Before the Industrial Revolution, women were primarily housewives. They took care of their children and remained at home. However, with the advent of the Industrial Revolution, women started working outside the home. They had more available time to work as the concept of free schools emerged. Consequently, women took on jobs of nursing, teaching, and secretaries. The suffrage movement also gained momentum as more women stood up for the right to vote and participate in government. All these changes benefitted women and made man and woman equal.
Adding further, Women were also paid justlike men. However, income level of women was less. To conclude, Women no doubt gained more rights during the Industrial Revolution but some patriarchal views continued.
Another change was urbanization. Before Industrial Revolution, most people were peasants and lived out in the country. Most of them were farmers and they worked from home. During and after Industrial Revolution, people started moving to cities and began to work in new factories. Now more jobs were found in the cities as compared to the farms Moreover, new technology greatly increased the productivity of farming which led to low demand for farmers . Nonetheless, Farmers were still needed to produce food for the growing population.
Emergence of Labor
Unions
Industrial Revolution led to the emergence of labour unions and
their acceptability in society. Consequently, employees became
aware of their rights. This aspect gave momentum to the political
aspect also.