Activities

 

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 it

led to growth of two systems of thought:

 

1) Economic science                      2) Socialism

 

a) Adam Smith → “Wealth of Nations”: causes of wealth

b)Malthus → “Essay on Population” : causes of poverty

c) Ricardo → “Principles of Political Economy and Taxation”: distribution of wealth

d) John Stuart Mill → “Principles of Political Economy”: how wealth ought be distributed

 

 

 • (par. 2-3) Facts of Industrial Revolution. 

1) Growth of population

2) Agrarian revolution

 

 

• (par. 4) Decrease in rural population.

causes:     1) Destruction of the common-field system of cultivation;

     2) The enclosure of common and waste lands;

     3) The consolidation of small farms into large.

 

• (par. 5) Agricultural advance.

cause — more scientific approach:

e.g.  

Improvement of breed and cattle

Rotation of crops

Invention of steam-plough

agricultural societies

• (par. 6-7) Growth of industry.

causes;

1) mechanical inventions in textile industry

e.g.  

Spinning-jenny: a machine spinning with more than one spindle

Water-frame

Crompton’s mule

Self-acting mule (by Kelly, then improved by Roberts)

 

most important:

steam engine patented by James Watt

Power loom

 

2) mechanical revolution in iron industry

e.g.  

Smelting by pit-coal

Application of steam-engine to blast furnaces

3) improved means of communication

e.g.  

Canal

Turn-pike road

railroad

 

results:   1)  periods of over-production and of depression;

     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)consolidation of farms

3)enclosure system

4) high price of corn

social changes in country life:

• (par. 9) Social changes in manufacturing world:
the workmen were individually unknown by the great capitalist employers and they got low wages.

consequences:

1)  lots of money for farmers
2) change in habits

3) class conflict.

• (par. 10) Misery of working people often caused by:

 

1) low wages

2) rise of prices

3) fluctuations of trade

 

Conclusion:The Industrial Revolution does not mean well-being because free competition may produce wealth without produce well-beeing.