The title of the extract, written by Arnold Toynbee, is "The Chief Features Of The Industrial Revolution".

In fact, it tells about the Industrial Revolution, that is an historical process that brought such radical changes in nineteenth century, in Great Britain and later in all Europe.

The Industrial Revolution is the substitution of competition for Medieval Regulation.

It led to two new system of thought: SOCIALISM and ECONOMIC SCIENC.

The develop of the latter is due to four landmarks:

•v  Smith's Wealth Of Nation; in which he explains the causes of wealth.

•v  Malthus' Essay On Population; in which he investigates the causes of poverty.

•v  Ricardo's Principles Of Political Economy And Taxation; in which he tells about the law of distribution of wealth.

•v  Mill's Principles Of Political Economy; in which he transmits us the difference between the law of production and the law of distribution.

The most important factors, which facilitated the industrial transformation, were:

•Ø  THE GROWTH OF POPULATION

•Ø  THE AGRARIAN REVOLUTION: It consisted of the destruction of the common field system, the enclosure, the consolidation of small farm into large.

•Ø  THE REVOLUTION IN MANUFACTURING and the technological innovation, such as: the spinning-Jenny, the self-acting mule, the water-frame, the steal-engine, the power-loom.

The Transport Revolution is a very important aspect of the Industrial Revolution; in fact the growth of factory system led to origin the expansion of trade: the CANAL-SYSTEM was being rapidly developed throughout the country, the ROADS were improved and RAILROADS were opened in order to improved the transportation of raw materials and goods.

Industrialisation brought about a Social Revolution: there were a lot of factory owners and a huge number of factory workers, who lived in very poor conditions, with no sanitation.