Industrial
Revolution: (Click here to download)
Industrial Revolution transformed the countries from
agricultural economies to industrial economies. This revolution boosted the
manufacturing activities thereby generating the employment. Factories sprang up
in industrialized countries like England.
Overview:
Industrial revolution began in 1750s with the inventions and
development of technology.
New technology like Spinning Jenny, water frame, mule, power
loom, steam engine etc. accelerated the manufacturing activities.
Production increased manifolds in the industrialized
countries.
Why industrial revolution
began in Britain?
·
Britain
had all the factors of production (land, labour, capital and machine)
·
Easy
availability of coal from coal fields
·
Technological
advancements and key inventions like Steam Engine
·
Transportation
availability (Inland navigation and Railways)
·
Coal,
power and water to fuel the factories for production
Pros of Industrial revolution:
·
Creation
of jobs
·
Creation
of wealth
·
Creation
of capital for investment
·
Technological
growth
·
Industrialization
of cities
·
Improved
transportation
·
Factories
sprang up
·
Living
standard rose
·
Population
growth
·
Urban
areas doubled (Example: London)
Cons of Industrialization:
·
Child
labour practice prevailed
·
Inhuman
working conditions
·
Excessively
long working hours (14-18 hours)
·
Workers
overburdened
·
Environmental
degradation
·
No
waste management
By 1850, industrial revolution penetrated
Belgium, France, Germany and USA. By 1900, it penetrated Italy, Russia and Japan.
Presently, it is penetrating in China and India.
Industrial revolution
led to Imperialism and colonialism:
Due to increased production, industrialized
nation started looking for markets where they can supply the finished goods and
earn profits.
Example: India became a British
colony, British supplied finished goods in India and exported raw material from
India. This led to the quest for the imperialism
and colonialism.
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