Complete the following notes. They will give you an outline of the information contained in the passage. The main points, relations of cause-effect, illustrations etc. are clearly indicated in the text by logical connectors. Look out for them.

• (par. 1) The Industrial Revolution is the substitution of competition for the mediaeval regulations which had previously controlled the production and distribution of wealth.

led to growth of two systems of thought:

1) Economic science                      2) Socialism 

 • (par. 2-3) Facts of Industrial Revolution. 

• (par. 4) Decrease in rural population.

causes:     1) the destruction of the common-field system of cultivation

   2) the enclosure, on a large scale, of common and waste lands

   3) the consolidation of small farms into large

• (par. 5) Agricultural advance.

cause — more scientific approach:

e.g.  

• (par. 6-7) Growth of industry.

Causes:

1) mechanical inventions in textile industry

e.g.  

most important:

 2) mechanical revolution in iron industry

e.g.  

3) improved means of communication

e.g.  

results:   1) change from independence to dependence

   2) substitution of factory system for domestic system

• (par. 8) Revolution in distribution of wealth:

rise in rents caused by

social changes in country life:

• (par. 9) Social changes in manufacturing world: the farmers shared in the prosperity of the landlords; for many of them held their farms under beneficial leases and made large profits by them.  

consequences:

 1)  great social revolution

2)  change in the balance of political power

3) class conflict.

• (par. 10) Misery of working people often caused by:

Conclusion: the effects of the Industrial Revolution prove that free competition may produce wealth without producing well-being.