The Industrial Revolution led to two new types of thought which are  Economic science and Socialism. The development of Economic Science in England had four chief landmarks: Adam Smith, Malthus, Ricardo and John Stuart Mill.

During the Industrial Revolution some very significant facts took place such as the increase of population and the positive decline in the agricultural population. Decrease in rural population was caused by the destruction of the common-field system of cultivation, the enclosure on a large scale  of common and waste lands and the consolidation of small farms into large ones.

Instead, agricultural advance  was caused by a  more scientific approach to cultivation sduch as the rotation of crops and the use of new machinery. Also industry was subject to a large growth thanks to mechanical inventions in the textile industry: for example the spinning-jenny, the water-frame, Crompton's mule, self-acting mule and the power-loom were invented and applied to production but the most important invention of all was steam engine.

The growth of industry was also the effect of the mechanical revolution in iron industry and the improved means of communication which led the smelting by pit-coal and railroad, canal-system and turnpike road. All this was resulted in an extraordinary increase in commerce and meant the substitution of the factory system of production  for the domestic system.

Talking about the distribution of wealth there was an increase in rents caused by social changes in country life due to the enclosure system, the consolidation of farms and the high price of corn. Moreover there were social changes in the manufacturing world: the new class of great capitalist employers made enormous fortunes, they took little or no part at all  in the work of their factories, their hundreds of workmen were individually unknown to them the older relations between masters and man disappeared, a "cash nexus" was substituted for the human pie and class conflict.

Finally the misery of working people often caused by the conditions of labours and the factory system, the rise of price and the fluctuations of trade.

For " "cash nexus" was substituted for the human pie and class conflict" I mean that under capitalism there was a cancellation of all human relationship especially in labor relations such as between employers and workers.