ECON 1000 Lecture Notes - Lecture 5: Industrial Revolution, Wage Labour, Crop Rotation

• School: York University
• Department: Economics
• Course: ECON 1000
• Professor: Andrea Podhorsky

Document Summary

Lecture 5: the industrial revolution: characteristics of first industrial revolution starts in england in 1780s. England undergoing large population growth: 5. 5m at end of 17th century; by end of 18th population is 9m. This leads to scarcity of resources like land. 5x; firewood 10x this is because many industries (shipbuilding, bread, beer, glassmaking) needed to use wood for fuel and could not initially substitute it with coal because this would ultimately ruin the product. Features of the industrial revolution: new energy sources replaced by use of non-renewable energy sources like coal and oil. Development of steam engine (see below) energy consumption rises greatly (5-10x: factory system. Although factory system is an important feature of industrialization, it is important to remember that this method of production was just of one many; shop or household based centers of manufacturing remained popular in many areas. Production is standardized and centralized in factory system; use of machines to power production.