The relationship between the Industrial Revolution and the Russian Revolution offers many interesting perspectives. Whether the former led to the latter and if so, the timing and context of the same, has been a theme of debate.
“For the first time in history, the living standards of the masses of ordinary people have begun to undergo sustained growth ... Nothing remotely like this economic behavior is mentioned by the classical economists, even as a theoretical possibility."Robert E Lucas, Jr.
When and how did the Industrial Revolution come about? Broadly speaking the complete transformation of manufacturing processes in industries especially textiles and iron marked the boom period of this era. The advent of newer and more efficient forms of technology meant that production leap-frogged generating revenue surplus for the economy. It also meant that the demand for raw materials increased multifold, which translated into more demand for colonies for their supply. Thus, technology boosted economy, which in turn impacted the foreign/strategic policies of the countries in question. Quite expectedly, the Industrial Revolution started in Britain and spread to other countries subsequently.
Another facet of the Industrial Revolution was the social
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Recourse to foreign loans (French) was not a great option since France could offer only far smaller amounts. Reliance on foreign loans also meant closing on less risky domestic sources of revenue. With no emphasis on modernisation of farming, credit or technology, the sector began to sink. This, coupled with lack of any kind of security for the peasants, led to fomenting unrest among them. State monopoly on liquor embittered peasants and the growing ranks of the urban poor and cast a long moral shadow since Russia's official cultural, social, and religious institutions formally opposed drinking and decried the abuses of