HIST 153 Chapter Notes - Chapter 21: Spinning Jenny, Industrial Revolution, Textile Industry
13 Jan 2017
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Machines are the most striking feature of modern industrial economy. Machines became so common in england that machine indusrty became a thing. James hargreaves constructed the spinning jenny, which increased the amount of cotton yarn that could be spun and thus made available for weaving. 120 spindles. Textile industry next to the river, because requires water, which is energy. Used in every stage of the productive process. Division of labor- the assignment of one stage of production to each worker or group - increase productivity. Capital - all assets used in production, machines and raw materials and finished products ; money that are necessary to to purchase these physical assets. Supply - amount of capital, labor, food, skills. Britain"s large deposits of coal and iron, british import was cheap. The accumulation of capital over a long period of time was so great that the industry could employ large numbers of workers even at war.
