AB_Industrial Revolution

• The industrial Revolution changed England from an agrarian and maritime economy to an Industralised economic system. It led to growth of two systems of thought:

1. Economic Science 
2. Socialism

 

1. Adam Smith
2. Malthus
3. John Stuart Mill
4. Ricardo

 

• Facts of the Industrial Revolution

1. growth of population
2. decline in the agricultural population

 

Decrease in the rural population

causes: 1) the destruction of common-field system

            2) the enclosure

            3) consolidation of small farms into large

 

Agricultural advance:

causes: 1) breed of cattle

            2) rotation of crops

            3) the steam-plough

            4) agricultural societies

 

• Growth of industry:

causes:

1) mechanical inventions in textile industry

• spinning jenny 
• water-frame
• crompton’s mule
• self-acting mule

most important:

-steam engine

-power loom

 

2) mechanical revolution in iron industry

• smelting by pit-coal
• application of the steam-engine to blast furnaces

 

 

 

3) improved means of communication

• canal system
• roads
• railroads

 

results: 1) extraordinary increase in commerce

            2) substitution of factory system for domestic system

 

• Revolution in distribution of wealth:

• rental of lands
• enclosure system
• consolidation of farms
• high price of corn

 

• Social changes in manufacturing world 

consequences: 1)  enrichment of the upper class (the ones who own factories)

   2)  impoverishment of the labour class 

   3) class conflict.

 

 

• Misery of working people often caused by:

1. High prices they can’t afford
2. Alienation
3. Lost of rights