Textuality » 4A Interacting
Industrial revolution - Activities
• (par. 1) Industrial Revolution à radical changes in nineteenth century England and the western world. Substitution of competition for the mediaeval regulations à previously controlled the production and distribution of wealth.
led to growth of two systems of thought:
1) Economic science 2) Socialism
Development of Economic Science in England à four chief landmarks, connected to four great English economists
a) Adam Smith |
b) Malthus |
c) Ricardo |
d) John Stuart Mill |
• (par. 2-3) Facts of Industrial Revolution.
1) Greater rapidity which marks the growth of population |
2) Relative and positive decline in the agricultural population |
• (par. 4) Decrease in rural population.
causes: 1) Destruction of the common-field system of cultivation
2) Enclosure of common and waste lands
3) Consolidation of small farms into large
• (par. 5) Agricultural advance.
cause - more scientific approach:
e.g.
breed of cattle improved |
rotation of crops |
steam-plough |
agricultural societies |
• (par. 6-7) Growth of industry.
causes;
1) mechanical inventions in textile industry
e.g.
spinning-jenny |
water-frame |
Crompton's mule |
self-acting mule |
most important:
steam engine |
power-loom |
2) mechanical revolution in iron industry
e.g.
smelting by pit-coal |
application of the steam-engine to blast furnaces |
3) improved means of communication
e.g.
canal system |
turnpike road |
railroad |
results: 1) extraordinary increase in commerce
2) substitution of factory system for domestic system
• (par. 8) Revolution in distribution of wealth:
rise in rents caused by
1) money invested in improvements |
2) enclosure system |
3) consolidation of farms |
4) high price of corn |
social changes in country life:
- The farmers à prosperity of the landlords. Ceased to work and live with their labourers à became a distinct class. More money than they knew how to spend.
- The labourers à exactly opposite and disastrous situation.
• (par. 9) Social changes in the manufacturing world:
New class of great capitalist employers à enormous fortunes. Little or no part in the work of their factories. Hundreds of workmen individually unknown to them.
consequences:
1) disappearance of old relations between masters and men
2) "cash nexus" was substituted for the human tie
3) class conflict
• (par. 10) Misery of working people often caused by:
1) fall in wages and rise of prices |
2) conditions of labour |
3) recurrent periods of bitter distress |
Conclusion:
Free competition à wealth without well-being.
Industrial revolution à New class of great capitalist employers. Workmen à disastrous conditions of labour.