The Industrial Revolution is an historical process: it employed the substitution of competition for the mediaeval regulations which had previously controlled the production and distribution of wealth. It brought radical changes into England and in the western world.

It led the growth of two systems of thought: Economic science and Socialism.

The main landmarks of Economic Science were : Adam Smith, Malthus, David Ricardo and John Stuart Mill.

The main facts of Industrial Revolution were:

• The growth of population;
• The decline in the agricultural population,

The main causes of the decrease in rural population were:

• The destruction of the common-field system of cultivation;
• The enclosure of common and waste lands;
• The consolidation of small farms into large.

In addition, agriculture advances was due to different causes like: the breed of cattle, rotation of crops, the steam-plough, which all together brought to birth of agriculture societies.

At the same time a growth of industry was recorded, due to new mechanical inventions in textile industry like the spinning-jenny, the water-frame, the Crompton’s mule and self-acting mule. However the most important invention were the steam engine and the power-loom.

What’s more a mechanical revolution in iron industry thanks to smelting by pit cool and the steam-engine to blast furnaces.

Additional improvements developed in means of communication: canals, turnpike roads and railroads increased commerce and substituted factory system for domestic system.

There were also a rise in rents caused by money invested in improvements, the effect of the enclosure system, the consolidation of farms and high price of corn.

The main imports of social changes in manufacturing world were the ceasing of work and live with their labourers and the class conflict.

Last but not least, another consequences of the Industrial Revolution was misery of working people often caused by: rise of prices, fluctuations of trade and the conditions of labour under the factory syste.