The Chief Features of the Industrial Revolution

Summary

The Industrial Revolution, which essence is the substitution of competition for the mediaeval regulations, led to growth of two systems of thought in Europe: Socialism and Economic science, which owes its development to four great English economists:

• Adam Smith with his publication “Wealth of Nations” in which he aimed at the substitution of industrial freedom for a system of restriction;

• Malthus with “Essay on Population” inquires to the causes of poverty and found them in his theory of population

• Ricardo with “Principles of Political Economy and Taxation” sought to ascertain the laws of the distribuition of wealth;

• John Stuart Mill with his “Principles of Political Economy” tried to solve how wealth ought to be distributed : the distribution of wealth is the result of “particular social arrangements and competition alone is not a satisfactory basis of society;

The Industrial Revolution brought a far rapidity growth of population. Before 1751 the largest decennial increase was 3 per cent. and between 1811 and 1821 was 18 per cent. On the contrary in agricultural population there was a decline from 35 per cent. of the whole population of Great Britain in 1811 to 28 per cent. in 1831.

We can found the causes of the decrease in rural population in: the destruction of the common-field system of cultivation, the enclosures and the substitution of large for small farms. The process of decrease went on uninterruptedly into the present century. The consolidation farms reduced the number of farmers while enclosure drove the labourers off the land.

There was also a substitution of scientific for unscientific culture: small farms of 40 to 100 acres consolidation into farms of 100 to 500 acres which meant rotation of crops and good farm buildings; the breed of cuttle was improved. Rotation of crops was introduced, the steam-plough was invented and agricultural societies were instituted.

In manufacture very important was the substitution of the factory for the domestic system, consequences of the four great mechanical inventions of the time: the spinning-jenny (Hargreaves), the water-frame (Arkwright), Crompton's mule and the self-acting mule (Kelly first, then Roberts).

But the patent for the steam-engine by James Watt and the one for the power-loom by Cartwright made this discoveries fundamental.

The iron industry had been equally revolutionised by the invention of smelting by pit-coal and by the application of the steam-engine to blast furnaces.

Advance made in communications allow the expansion of trade that itself allow the growth of the factory system. Canal system was being rapidly developed, additional miles of turnpike road were constructed and in 1830 opened the first railway.

There was, then, a rise in rents caused by: money invested in improvements, the enclosure system, the consolidation of farms and the high price of corn. The farmers shared in prosperity of the landlords; for many of them held their farms under beneficial leases, and made large profits by them. In consequence their character change: the new class of great capitalist became richer and richer, and richness drove it to luxury as done with farmers. The relations between masters and men disappeared and started a class conflict due to the misery which came upon òarge sections of the working people often caused by: a fall in conditions of labour under the factory system, the rise of prices (especially bread) and the fluctuations of trade.

In conclusion revolution main effect was the aware of men that free competition can produce wealth without producing well-being.