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. In Europe the Industrial Revolution 

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 (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) introduction of the workman

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 and they ceased to work and live with their labourers, and became a distinct class.     

consequences:

 1)  great social revolution

2)  a 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 often produces wealth without producing well-being.