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The Industrial Revolution, 1750-1850

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University of Toronto St. George
Kenneth Bartlett

HIS109 Jan. 17 , 2011 Industrial Revolution I, 1750-1850 Revolution based on demand for consumer goods, & mechanical goods Acceleration of economic growth that had economic & social consequences, emergence of capitalist economy Rise of new modes of production, the development of the factory system and all its problems Substitution of machines instead of human effort Improvements in the income of workers Central to the growth of the capitalist economic system that developed starting in the Middle Ages (Mercantilism) Capitalism first flourished in Italy and in the lower European countries Limited by controls placed on it by a centralized government - Mercantilism (France placed restrictions on trade) this was considered unnatural & inefficient) 2 Pillars: private property and profit motive Importance of consumer consumption – consumption increases as the middle class desires to have what the upper classes do, however less expensive versions Freeing up trade could generate vast amounts of wealth Physiocrats (“rule of nature”) Turgot Put their faith in land, heart of economic success was agriculture, manufacturing did not interest them as much, didn’t believe it could create as much wealth as agriculture could Manufacturing considered a sterile form of capitalist production Pushed for introduction of their ideas in France Tried to transform the system, unable to do so due as result of old regime Rigid regulations in mercantile economy th Played a role in opening up trade in the later part of the 18 cent. Adam Smith, The Wealth of Nations (1776) Advocated Conservative political creed, ideas of enlightened economic theorists How do individuals obtain domestic opulence? Specialization – division of labour (pin factory example) Wealth of Nations - Bible of laissez faire capitalism Explores nature of wealth and how the benefits could be measured Wanted to see more tangible benefits, wanted to see nation focus on internal development Regulation restored a natural balance of industry Capitalism creates wealth and markets, operated in such a way as to create incentive for workers (part of “hidden hand” that moves the economy) Why did the industrial revolution begin in England? England possessed a number of prerequisites for industrialization: 1) Available capital to finance new industry: Private entrepreneurs needed excess money to make their businesses grow English had the bank of England that offered low-interest loans, private bankers offered loans, investors keen to invest in the bank because it was stable Financial revolution helps pave the way for the industrial revolution French and the Spanish did not have a bank, difficult to loan money to establish commercial interests Duke of Bridgewater had an entrepreneurial spirit, sent goods across Europe Allowed citizens to invest money into economy to allow it to grow Quakers made up half of the leading industrial entrepreneurs 2) Social and intellectual environment that favoured technological innovation: Entrepreneurs were hardworking and innovative Intelligent artisans in England, science taught in schools not very good (English schools lagged behind those of the French, Italians, & Germans) English patent office supported new inventions, patents granted albeit slowly but protected these inventions Group of artisans capable of creating mechanisms necessary for the revolution 3) England had many natural resources: Coal deposits Breakthrough in iron production, improving its quality Coal industry fueled the iron industry and vice versa, both continuing to grow Coal is difficult to mine, & transport; thus there had to be a way to carry it London, leading to creation of light-rail tram systems pushing the coal into a canal system A pumping system was also required to mine deeper for coal – eventually the steam engine is applied to coal mining and then rail systems 4) Road & water ways for transportation: Canal system was used to transport coal, as well as goods to London For ex. Bridgewater Canal: 1760s canal used to transport coal for powering of mills McAdams technique of using tar for roads to improve their conditions, roads were muddy (Scots invented techniques to improve British roads) 5) Agricultural Workers: By 1750 there was no longer an English peasantry – individuals free to leave the land to find work elsewhere, no longer bound to the land England also underwent an agricultural revolution along with a financial one Owners enclosed more land and put effective farming techniques to use Enclosure drove off small landowners, dislocated sectors Increased yields, fields were turned into pastures for crops Farmers worked the lands effectively; & fields were no longer fallow (Townsend: clover used to replenish lands, then for animals to eat – fertilizer created) Tull: different types of grasses introduced Potatoes used to sustain the growing population *Population doubled due to agricultural innovations, decline in smallpox and the plague due to inventions in inoculations, sanitary improvements Case Study: The Textile Industry Industrialization of the textile industry allowed the revolution to come to England Cotton replaced wool products, was brought from colonies such as India Merchants allowed to trade at a low cost, slavery trade English were trading partners with the US, purchased cotton Cotton industry – where the first great strides took place, which allowed the industrial revolution to take place New inventions created to deal with bottlenecks More thread required as looms created more than spinning wheels – more cotton yarn was needed (i.e Spinning Ginny invented) Richard Arkwright: invention of spinning frame that required water, created high quality thread Frame was then attached to Watt’s steam engine creating an effective system for factories using steam & water power More cotton available stimulated the market, available to more people System of supply and demand spiraled Iron work expanded, deeper coal mines Manufacturing not sterile, in fact it thrived on the conditions that existed in late th th 18 / early 19 century (Smith) HIS109 Jan. 19 , 2011 The Industrial Revolution II Effects of the Industrial Revolution: All of the manifestations of the Industrial Revolution continued with greater velocity throughout the 19 century By 1860s, England was almost completely industrialized as a state System built into the industrialization, as England created more goods they were taken on English ships around the world & came ba
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