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The European scene at the beginning of the eighteenth century is much different than it is today. Densely populated cities in countries such as England and France were merely farm towns two hundred years ago. What caused what used to be cultivated open fields to turn into populous towns? These question can all be answered and explained by the Industrial Revolution. The word 'revolution' implies a suddenness of change that is not, in fact, characteristic of economic processes. But the phrase "Industrial Revolution" has long been used by historians and has become embedded in common speech (Ashton 2). A revolution implied by historians is just a change of the old way, not necessarily a fast change, or a violent overthrow. England's Industrial Revolution does not have set dates. It is said that England's Industrial Revolution began around 1780 with Britain's prosperous colonies and expanding Atlantic economy. Some critics claim that there wasn't an industrial revolution, and some challenge the naming of the period. In Phyllis Deane's book, The First Industrial Revolution, she outlines three main points in which an economy which experienced an industrial revolution differs from its pre-industrialized counterpart. This essay will us
The British economy seems to have developed relatively slowly by comparison with the later countries to industrialize (Deane 272). The second major step in an industrial revolution is the increase in standards of living and productivity. Even in the early twentieth centuries, underdeveloped countries seeking a means of escape from economic stagnation are inclined to see the establishment of a steel industry as a first step (Deane 114). Estimates of average national income per head suggest that they were then the most affluent people in the world (Deane 269). The chief contribution of the banks to the industrial revolution consisted in the mobilizing of short-term funds and their transfer from areas where there was little demand for them to others that were hungry for capital. In 1773 the Stock Exchange obtained premises of its own, which included public utility and insurance companies, which was a powerful instrument for assembling the savings of the middle classes (Ashton 107). Iron production nearly tripled between 1740 and 1788. England thus was in a position to experience the most effective reactions from colonial trade and supplies, and presently certain industries found themselves unable to meet the demands for goods made upon them unless fundamental changes in organization and technique were made (Dietz 24). The spinning wheel allowed producers to build the first large scale factories. By 1850, Britain was certainly industrialized in that more of the people were engaged in manufacturing industry than agriculture (Deane 255). In 1830 England had approximately twenty thousand miles of turnpike roads. The steam-power began to replace waterpower in the cotton-spinning mills. The British government, along with the banks, helped the revolution take place. For the first time in history, humanity had unlimited power at its disposal. In one industry, the invention of the spinning jenny allowed cotton to be produced faster and cheaper for both consumers and producers.
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Acceptance Essays
