NATS 1760 Lecture Notes - Lecture 4: International Finance, Factory System, Industrial Society

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The idea of revolution is a big change. Industrial revolution: the view will change in time when new news and new info is discovered. The beginning 19th century was primarily agrarian: connected to agriculture. End of 19th century: shift from agriculture for the first time to production that was mechanized. Factory system expanded (what we used to do with people, were now done by machines) Iron: much more power compared to the same size of wood. Steam freed up the production of power. What gets challenged by historians: when the shift happened. But none disagree with the shift of production. The majority of people worked in low skilled manufacturing jobs. You either worked in the jobs or owned those factories. Public schools and prisons became agents of social control. The basic economic unit was no longer the family, now the individual. Beginning of 19th century: families tend to work together.

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