Causes and Preconditions for the Industrial Revolution

Historians may disagree on most aspects of the Industrial Revolution, but one thing they do agree on is that 18th-century Britain experienced a huge change in the economic field of goods, production and technology, and the social sphere (through urbanization and treatment of workers). The reasons for this change continue to fascinate historians, leading people to wonder if there was a set of preconditions present in Britain shortly before the Revolution which enabled or allowed it to take place. These preconditions tend to cover population, agriculture, industry, transport, trade, finance, and raw materials. Preconditions for Industrialization in Britain Circa 1750 Agriculture: As a supplier of raw materials, the agricultural sector was closely linked to the industrial; this was the main source of occupation for the British population. Half of the arable land had been enclosed, while half remained in the medieval open field system. The British agricultural economy produced a large surplus of food and drink and had been labeled the Granary of Europe because of its exports. However, production was labor-intensive. Although there had been some new crops introduced, and there were problems with underemployment. Consequently, people had multiple occupations. Industry: Most industries were small scale, domestic and local, but traditional industries could meet the domestic demands. There was some inter-regional trade, but this was limited by poor transport. The key industry was wool production, bringing in a substantial portion of Britain’s wealth, but this was coming under threat from cotton. Population: The nature of the British population has implications for the supply and demand for food and goods, as well as the supply of cheap labor. The population had increased in the earlier part of the 18th century, especially closer to the middle of the era, and was mostly located in rural areas. The people were gradually accepting of social change and the upper and middle classes were interested in new thinking in science, philosophy. and culture. Transport: Good transport links are seen as a basic requirement for the Industrial Revolution, as the transport of goods and raw materials were essential for reaching wider markets. Generally, in 1750, transport was limited to poor quality local roads — a few of which were turnpikes, toll roads which improved speed but added cost — rivers, and coastal traffic. While this system was limited, interregional trade did occur, such as coal from the north to London. Trade: This had developed during the first half of the 18th century both internally and externally, with a great deal of wealth coming from the triangle slave trade. The main market for British goods was Europe, and the government maintained a mercantilist policy to encourage it. Provincial ports had developed, such as Bristol and Liverpool. Finance: By 1750, Britain had begun to move towards capitalist institutions — which are considered part of the development of the Revolution. The produce of trade was creating a new, wealthy class prepared to invest in industries. Groups like the Quakers have also been identified as investing in areas which contributed to the industrial boom. Raw Materials: Britain had the raw resources necessary for a revolution in plentiful supply. Although they were being extracted in abundance, this was still limited by traditional methods. In addition, the related industries tended to be nearby because of poor transport links, exerting a pull on where industry occurred. Conclusions Britain in 1870 had the following which has all been stated as necessary for an Industrial Revolution: good mineral resources, growing population, wealth, spare land and food, ability to innovate, laissez-faire government policy, scientific interest, and trading opportunities. Around 1750, all of these began to develop simultaneously. The result was a massive change. Causes of the Revolution As well as the debate over preconditions, there has been a closely-related discussion over the causes of the revolution. A wide range of factors is generally considered to have worked together, including: The end of medieval structures changed economic relationships and allowed for change.A higher population because of less disease and lower infant mortality allows for a larger industrial workforce.The Agricultural Revolution frees people from the soil, allowing — or driving — them into cities and manufacturing.Proportionally large amounts of spare capital were available for investment.Inventions and the scientific revolution allowed for new technology to increase and cheapen production.Colonial trade networks allowed the import of materials and the export of manufactured goods.The presence of all the required resources close together, such as coal near iron.Culture of hard work, risk-taking, and the development of ideas.Demand for goods.

Supply And Demand Concepts Critical And Macroeconomics...

Supply and demand concepts are critical to the macroeconomic and microeconomics settings. This week’s assignment discusses a functional apartment management company in the city of Atlantis, which is dealing with factors of economic issues. When in perspective, the microeconomics concepts can be categorized by changes in the supply, demand and equilibrium. This is because all of these topics affect a small market in which the company operates. Normally, microeconomics applies to individual markets in which goods and services are bought and sold, while macroeconomic concepts have a broad impact on the overall region, and goes beyond that of the local market. These concepts—when applied to the business of apartment homes— typically include price elasticity and price ceiling because they are concepts that apply to a large and broad market. Additionally, Macroeconomics factors focus on the performance, structure, behavior and decision making of the economy as a whol e. The simulation pertaining to the supply and demand concepts showed that there was a shift in the supply curve, or the demand curve, and could cause some significant changes to the economic environment. For example if the demand curve was to shift to the left, that would show a sudden decrease in the consumers demand for production and could cause fewer apartments to be filled. This type of situation occurred in the simulation due the widespread desire of customers to own their property therefore forcingShow MoreRelatedChallenges Faced By The Management Of A Business1877 Words   |  8 Pageseconomic principles and macroeconomic indicators. These indicators help managers to understand how the economy is performing and what the trends are here in the U.S. and across the world. An article titled â€Å"Kiplinger’s Economic Outlook† presents a current look at general economic principles and economic indicators. 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Can Capitalism Lead to Human Happiness free essay sample

This issue consists of supporting and opposing arguments. Adam Smith explains the supporting argument; and Karl Marx and Friedrich Engels jointly explain the opposing arguments; all well known philosophers. The debate at hand is whether the capitalism economic system or communism economic system provides the most contentment to people. Adam Smith: YES Smith argues, †If we will but leave self-interested people to seek their own advantage, the result, unintended by any one of them, will be the greater advantage of all. No government interference is necessary to protect the general welfare. † Smith supports his argument by explaining, what most people consider the â€Å"American Dream†. He is very detailed in describing the process of developing wealth through manufacturing goods and services. He covers the division of labor, explaining that a manufacture owner employs a small number of the population to work to deliver the demands of the greater population. Each division of the manufacturing process conducts specified duties and tasks to create a part of the manufacturing process. We will write a custom essay sample on Can Capitalism Lead to Human Happiness? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The manufacturing process includes both skilled and unskilled labor. By dividing labor and creating specialized areas of the process increases the quantity of output within a shorter time period. As the process is further separated, so is the compensation, which creates a great division of class. The invention of machines has allowed one man to complete the task of many workers. The manufacturing process also creates multiple opportunities for other manufacturing owners to create an item or fixture to be utilized in the manufacturing of the main product. Considering this type of work environment will create a difference in class. The highest class will be the wealthiest, the private owner. The owner would employ all the other classes and level of wealth will be determined by position and compensation, the poorest being the worker the least compensated. The goal is to make as much of a profit as possible to live the life desired. Without governmental influence, this creates an opportunity for any person to achieve their personal monetary goal. Therefore, making earnings limitless and allow individuals to be in control of their own happiness. Maximizing earnings is always considered, leading to outsourcing from foreign companies at an inexpensive rate that which can be home-produced. â€Å"†¦ Every individual naturally inclines to employ his capital in the manner in which it is likely to afford the greatest support to domestic industry, and to give revenue and employment to the greatest number of people of his own country. † Karl Marx and Friedrich Engels: NO Marx and Engels are in great support of communism. They explain that if you â€Å"leave people to their own self-interested devices, and those who by luck and inheritance own the means of production will rapidly reduce everyone else to virtual slavery. † Communism eliminates the divisions of class in society created by capitalism, by allowing the government to control everything. Marx and Engels argue that capitalism will increasingly create a great divide causing the wealthy to be wealthier and make the middle class and lower class get poorer until eventually there is no middle class, just a great division between two classes, whereas, communism will create a balance and eliminate all classes. A communist society focuses more on balancing and sharing the wealth to ensure everyone is equally treated and capitalism focuses on individual wealth and success and leave the rest of society to continuously struggle and get left behind. Marx and Engels that the growing competition will cause the workers to form unions to fight for wages; become rebellious and cause riots. The bourgeois will continue to succeed as the proletarians continue to struggle. Marx and Engels believe communism is the best way to go because it focuses on the way wealth is shared to ensure the happiness of society. Capitalism focuses on the development of individual growth and happiness. Questions What is your opinion on this article? Do you think that Marx and Engels are correct in their portrayal of capitalism? How are the effects of capitalism affecting us today? Do you think capitalism has led to human happiness?

Social Structure Essays - Marxian Economics, Breadwinner Model

Social Structure Social Structure This essay will begin by describing the three spheres that tie society together. The main institution of society is the family or household which is broken up into thousands of units. Secondly, it will discuss the economic institution and its ties to the family. The use of labour power and how that effects the power struggle with the capitalist marketplace will also be discussed. Lastly, the political institution of government will be shown along with its relationships to the family and the families ability to create reform and change regulation. One of the main institutions in society in the household or family. It is here that almost all the consumption in society takes place. It is also here that almost all the labour power in society originates. The make-up of the family is not as "cut and dry" as it once was. The nuclear family is dead and what has replaced it has put all old theories about the family to the test. One major change has been the rise of the dual-earner family. In 70% of households today there is no single breadwinner. (Burggraf, 1997:54) Women's position in the family has been changed radically from that of one-hundred years ago. Three important issues have been raised about women's position in the family. One is that the development of gender inequality within the family is a result of the changing economy. This being the extra accumulation of property in private households. The second issue is that capitalism being the only form of economy we are familiar with pushes for the working of every family member to create a strong economy. Lastly, the evolution of the family dispersed from economic development and instead become a more social issue. (Wilson, 1982:37) Because the position of women in the family has been so altered from past history, projections made, even forty years ago, are increasingly wrong. Though, even with the changing structure of the family the economic labour power has not significantly increased. The role of housewife in the post-industrial age was just as important to women as today's dual earning household. The housewife was the counter-part to the husbands role of breadwinner. It was the wife who cleaned the husbands clothes, prepared his food and provided emotional support, without which he could not fulfill his role as breadwinner. (Burggraf, 1997:174) With the evolution of the labour market and capitalist economy with the ever increasing consumption of the family unit the homemaker was called to enter the workforce. In 1901 only 12% of Canadian women were economically active, however, in 1961 there were 29.5% economically active. (Wilson, 1982:71). This percentage has gotten exponentially bigger with time. In 1981, 54% of women with dependent children were economically active.(Purdy, 1988:203) Another facet of the economic family unit is reproduction. The goal of the family unit is to produce children, which in turn expands the labour force, which creates a larger economic base. In Canadian families the emphasis is on quality not quantity and because of this there are gaps in the unskilled labour force. It is only through immigration that the capitalist economy has been able to keep up with the demand for cheap unskilled labour. (Purdy, 1988:229) So the value of labour power is determined outside capitalism, in non-capitalist units that maintain and reproduce labour power...families. Corporations produce wealth in the form of goods and services and a can last well beyond an individuals life span. Capitalism is a powerful institution with holds on the economy, political state and family as well. The payment of wages allows the corporations to grow and continue to produce goods and exploit workers. (Bailey, 1974:127) Families consume. In the modern era, most families are not units of production and consumption, mainly just consumption. They do not accumulate wealth, but simply take the wage and spend it on commodities that satisfy their needs. As Karl Marx put it, "if I exchange a commodity [labour power] for money, buy a commodity for it and satisfy my need, then the act is at an end." (Smith, 1982:29) Families have a limited life span, related to the cycle of growth and decline of individual family members. The family, unless it has property, will inevitably decline to be replaced or reborn in new formations down the generations. Wages earned allow families to survive and reproduce labour power, in the form of children. It is the children that will outlive the family and become the new labour power. Working for wages allows those with economic activity to support the non-wage-earning members of the household, young and old, caring and dependent. In