Capitalism and the Industrial Revolution Essay - 1783 Words

The Industrial Revolution of the eighteenth and nineteenth centuries was arguably the most important turning point in history. It transformed the manufacture of goods from craftsmanship to commercialism, exponentially increasing output and decreasing production cost leading to prosperity and an unprecedented supply of goods for the markets of the world. Industrialization and mass production was the fuel which ignited the flame of capitalism which was already established creating bringing sweeping changes in wealth and its distribution. Within a few generations the very fabric of society was virtually remade as millions left the farms and villages of the countryside for jobs in the cities. This monumental change did not immediately sweep†¦show more content†¦The introduction of many new crops like corn, tomatoes and potatoes to Europe from the Americas previously had all but eliminated wide-spread famine in the region. These new food sources had also made Europeans health ier resulting in generally increased lifespans and more offspring generating a significant population increase in the region, thus creating more demand for the products and goods consumed by every growing society. The increased population also provided for an abundant labor pool of workers to man the factories which were to become the engines of the emerging industrial society of the west. Favorable environmental factors were important too. The availability of an abundance of ports and waterways and large coal and iron deposits fueled the early surge of the industrial revolution in the west. The introduction of an a highly efficient steam engine by Thomas Watt in 1769 was undoubtedly a crucial factor in the advent of the industrial revolution. This made it possible for mills and later factories to be located nearly anywhere by eliminating the necessity of a running stream to provide power. It was the rise of the factory system of manufacture with its strategy for the specialization of labor which contributed most to theShow MoreRelatedCapitalism And The Industrial Revolution778 Words   |  4 Pagescharacterized by the Industrial Revolution. The third era of globalization began in the year 2000, and occurs to this day (Friedman, year, p.8). But the real question is, what sparked the rise of globalization? The term is modern, but the concept is not. Capitalism and the Industrial Revolution played a huge part in the development of industrial cities and globalization. The need of goods that cannot be produced everywhere sparked trade and exploration, and with that came capitalism and the rise ofRead MoreImpact Of The Industrial Revolution On Capitalism And The Contemporary Society Essay1625 Words   |  7 PagesThe impact of the Industrial Revolution on Capitalism and the Contemporary Society, When looking into the past during the Industrial Revolution, there were many cause and effect events that occurred, the Industrial Revolution changed the lives of many, these changes in society were caused by the innovations of the time period, and the need for a more productive environment. There was a movement from an agricultural society to a manufacturing society; these changes affected the family’s abilityRead MoreEssay about The Industrial Revolution, Capitalism, and Socialism810 Words   |  4 PagesThe Industrial Revolution brought about great changes in how goods were produced and consumed, but it also brought about social and political changes. Some were positive, such as machines relieving much of the toil previously placed on worker’s muscles. But there were also negative changes. As workers moved to cities to work in factories, and progress in medical and sanitation practices improved, urban crowding became a huge issue. Additionally, where industry was taking over production in marketsRead MoreCapitalism Vs. Socialism And Communism1175 Words   |  5 Pages Capitalism VS. Socialism/Communism Analysis The industrial revolution changed the way people lived. Before the industrial revolution all the work that is now done by machines was done by hand. It also allowed the ambitious working class man to join the rich at the top. This was done through capitalism and laisses-faire economics which gave businesses the ability to operate in a free market without government regulation. Capitalism deserves its share of criticism because of the abuses it causedRead MorePrior To The Industrial Revolution, Which Began In Britain1542 Words   |  7 PagesPrior to the Industrial Revolution, which began in Britain in the late 1700s, manufacturing was often done in people s homes, using hand tools or basic machines. Industrialization marked a shift to powered, special-purpose machinery, factories and mass production. When the Industrial Market took a big leap and bound forward, it set off a big chain of events and changed many aspects of the era, people’s lives and the future of our nations. Many areas of industries, such as the big iron and textileRead MoreThe Shaping Of The Modern World Essay1407 Words   |  6 PagesThe Shaping of the Modern World 10/31/16  ​Question #5: The Growth and dominance of Capitalism and the Industrial Revolution transformed the world. Explain the different positions and outlooks on capitalism and the Industrial Revolution taken by Adam Smith, Karl Marx, and Friedrich Engels. ​The growth, influence, and power of the world surrounds itself around capitalism and the Industrial Revolution. Capitalism is best described as the economic and political system where different countries tradeRead MoreIndustrial Revolution : A Time Of Social And Economic Change1169 Words   |  5 PagesThe Industrial Revolution was a time of social and economic change which emphasized the power of humanity over nature. It was also an era of change which consisted of inventions that were mass produced to make life easier between 1750 and 1914. Although the Industrial Revolution led to efficient transportation and made Great Britain the center of world commerce, only the upper class got to truly enjoy that. The Industrial Revolution had spread to all around the world so the impact was more brutalRead MoreIndustrialization Of The Industrial Revolution1214 Words   |  5 Pagesthe emergence of the ‘Industrial Revolution’, the great age of steam, canals and factorie s that changed the face of the British economy forever.† (White, M, The Industrial Revolution). The industrial revolution sparked the development of capitalist economies and as a consequence a division of labour was formed. Therefore the capitalist system is seen as a natural consequence of the industrial revolution. The industrial revolution was a period in which societies became industrial due to there being anRead MoreBackground Of Industrial Evolution Of The Industrial Revolution1469 Words   |  6 PagesBackground of industrial evolution in Britain From 1760s to 1840s, a great revolution, called as the Industrial Revolution later by historians, happened firstly in England and soon after whole European continent (Landes, 1969). Later in 19th century, the revolution also influenced North America. Machines’ flourish in inventions and applications is treated as one symbol of this period, thus, it is called â€Å"the Age of Machines† by some historians as well. In the mid-1700s, Hargreaves invented SpinningRead MoreIndustrial Revolution Essay1152 Words   |  5 PagesBritain’s Industrial Revolution.  Jane Burbank and Frederick Cooper emphasize the importance of slavery for the development of the Industrial revolution and capitalism. However, as  James Carter, Richard Warren, and Robert Marks demonstrate, global trade and new technology were just as important factors as slavery  because  they increased both the efficiency of production and demand for British-made goods. Carter and Warren classically conn ect the idea of capitalism to the Industrial revolution because