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 changed England, with reference to an agrarian country. It led to growth of two systems of thought: 1) Economic Science 2) Socialism

a) Adam Smith

b) Malthus

c) Ricardo

d) John Stuart Mill

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

1) the growth of the population

2) decline in the agricultural population

(par. 4) Decrease in rural population. Causes:

1) destruction of the common fields system

2) enclosures of large common lands

3) consolidation of small farms into larger ones

(par. 5) Agricultural advance. Cause – more scientific approach:

1) rotation of crops

2) steam-plough

3) breed of cattle

4) agricultural societies

(par. 6-7) Growth of industry. Causes:

1) mechanical inventions in textile industry

a. spinning-jenny (1770)

b. water frame (1769)

c. Crompton’s mule (1779)

d. self-acting mule (1792)

most important: steam engine and power loom

2) mechanical revolution in iron industry

Steam engine in blast furnace

Smelting by pit-coal

3) improved means of communication

Development of canal system

Railroad

Results: 1) reoccurrence of periods of overpopulation and depression 2) substitution of factory system for domestic system 3) autarchy in the production

(par. 8) Revolution in distribution of wealth:

Rise in rents caused by

1) enclosure system

2) consolidation of farms

3) high price of corn

(par. 9) social changes in manufacturing world: capitalists made enormous fortunes taking little to no part in the actual work pf their factories.

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

1) high price of breads

2) fluctuation of trade

Conclusion: free competition may produce wealth without also bringing a sense of well-being to people