This text is an extract of "The Industrial Revoluiton" from Arnold Toynbee and it's an argumentative text about the situation of England but also of the rest of the world in the period of the Industrial Revolution.The author's thesis is that the Industrial Revolution is a period of development of industry, commerce but in the same tame brought a misery and difficult state of society. 
The text can be divided into four parts or paragraphs. 
The first is an introduction and tells us that the Industrial Revolution is a historical process that brought radical changes in the world.
The second part starts with definition of the Industrial Revolution as the substitution of competition for the medieval regulations of wealth and the born of two systems of thought: Socialism and Economic Science, and the ideas that of four great economists: Adam Smith,Malthus, Ricardo and John Stuart Mill.
After the ideas the author passes to the facts of the Industrial Revolution: rapidly increase of population and in the same time decrease in rural population.
The rest of this part demonstrates how the Industrial Revolution provokes the wealth in two great "worlds", country and industry world. 
In country world this progress is made by scientific approach and more production with the destruction of common-field system of cultivation and the enclosure of them.
There was, in the cities, growth of industry caused by mechanical inventions in textile and iron industry, improvement means of communications that caused the substitution of factory system for domestic system. In this way Toynbee proved the first part of his thesis.
In the third part the author analyses the consequences of the second part. The main consequence is the social change brought with the increase of production: creating of two classes, the capitalists and the farmers who increase their wealth, and another class of labourers who don't have anything except their hands. This situation caused many conflicts and misery position of working people that lost his human rights and were considered as the force of working not as a human being.
And the last part is a simple conclusion of what was said in the second and third part: the Industrial Revolution produce a wealth, but not well-being.
I completely agree with this conclusion proved clearly with logical structure of text, his arguments,judgments, informations and without contradictions. 

Reader can easily understand and focus on the content because it has a simple language and it's well structured. With the reference of the human situation Toynbee makes this text closer to the readers so it's not only more persuasive, but also bring us to the conclusion that the money isn't important as a lives of persons, as it was in this period.

IMPROVED VERSION

 

Arnold Toynbee's essay deals with the Chief Features of the Industrial Revolution. It opens with an introduction in which Industrial Revolution is defined as an historical process. Also its economic and social consequences are demonstrated at a global level.  

The essayist goes on developing an argumentation in order to explain the radical change brought about by the Industrial Revolution. He explains it mainly consisting in the substitution of competition "for the medieval regulations which had previously controlled the production and distribution of wealth." The consequences of this process meant the birth of two different systems of thought: Economic Science and Socialism which are exactly the opposites. He also mentions the four greatest economics and their ideas of the Economic Science.

After the ideas the essayist passes to the facts of the Industrial Revolution. The two most important facts are the considerable growth of population and the decline of agricultural population, confirmed with a quantitative informations.

In the following paragraph the author underlines the importance of the agrarian revolution and explains the causes of decline of the rural population: "the destruction of the common-field system of cultivation; the enclosures, on large scale, of common and waste lands; and the consolidation of small farms into large". As result the most of people were forced to go away from their lands.

The essayist continues with more detailed description of the agricultural revolution and its advances as more scientific approach, rotation of crop, improvement of the agricultural tools.

After this analysis the author directs his attention to the industrial changes that brought "the substitution of the factory for the domestic system" as a consequence of mechanical inventions: the spinning-jenny, steam engine, the power-loom in textile industry; smelting by pit-coal and steam engine to blast furnaces in iron industry. There were also a great improvement in the means of communication, especially the canal systems.

As another consequence od these changes, the essayist highlights was an extraordinary increase in commerce, periods of over-production and revolution in distribution of wealth. This revolution , as he says, provokes a rise of rentals caused by money invested in improvements, high price of corn, and it's linked to the social changes in country and factory worlds.

These changes brought a distinction between rich people, the capitalists in cities, the farmers in the countries, and the pour without any property,labourers, whose situation was getting worse every day.They worked in miserable conditions and they were considered a working force. Toynbee called their situation "a horror". This is the negative side of the Industrial Revolution that led the society to the class conflicts.

In view of the analyzed arguments the essayist concludes that "free competition may produce wealth without well-being", because the wealth and the money don't product welfare. This is the conclusion that none can deny.