The First Industrial Revolution

Industrial revolution is the most significant event which brought technological, cultural and social changes in human history. It first began in England around mid-1700s and then spread to other European countries. Japan was the first Asian country to experience industrial revolution. It was the outcome of the desire to produce more and more products without spending much money. It emerged due to capitalism and led to growth of capitalism. Industrial revolution increased the production, average income and the country’s economy.

Great Britain was the first to experience industrial revolution as it was the only country which had adequate capital to invest in new technologies. Secondly, the abolishment of serfdom opened up job opportunities for

It was basically because of the various new inventions. There was development in machineries, railways, and steam and iron ships. All this led to the increase in economy of Britain; it then led to the creation of world economy and then international division of labour. All these factors increased the standard of living in Europe. There was development in coal industry in the 19th century. There was growth in cotton industry as well. All these factors contributed to the economic growth in Britain.

The agriculture revolution in England too acted as a catalyst to industrial revolution. Agriculture revolution brought in new farming techniques, production of cash crops and raw materials for industries and new farm machineries. Crop rotation and land consolidation indirectly led to industrial revolution. As a result of these developments, there was a period of high productivity and low food prices which means people in England requires less money to spend in food. Hence, they could spend more on manufactured products.

Thus, it can be concluded that industrial revolution resulted in a shift from agrarian societies to urban societies. It had both the positive and the negative impacts on the society. On one side it increased job opportunities but on the other the working and living conditions of the workers declined drastically. It was characterized by the application of knowledge but

In feudalism there was no change in structure and size but in capitalism size and structure changed as new institutions, transport and communication facilities were introduced. Economy grew in capitalist society as surplus is re-invested but static in feudalistic society as surplus is consumed. Goods were produced for local consumption with no intention to produce more for a bigger market but in capitalist society goods were produced with the motive of making profit and were even sold abroad. There were economic compulsions for workers in capitalist society but not in feudalistic society, though there were various norms and values to be followed. Capitalism led to industrialization but latter was not the integral part of