The Industrial Revolution
Industrial Revolution? Sudden? Meaning? Costs vs. Benefits?
Economic Productivity Cotton textiles, iron, steam engine
Prerequisites Agricultural expansion Transportation
Canal Building
Pontcysyllte Aqueduct
Availability of Capital Empire matters Investors looking for solidity, not bubbles Reinvestment of profits
Inventiveness Inventors Attitude Enlightenment
Natural Resources Coal, iron, water
What made Britain different? Single common market Common coinage Common system of weights and measures No internal tolls Lack of regulation
Labor Mobility Geographically Socially
Primogeniture
Dissenters’ Schools Modern curriculum Business open
Dissenting innovators Thomas Newcomen James Watt
Costs Old jobs lost Societal disruption (mass society) Emphasis on punctuality Consumer culture Pollution
Benefits Work load eases Material goods
Process vs. Span of Time
The Period Poverty just more noticeable? Population growth and urbanization
Conclusions Mechanical labor replaces human labor Change made permanent Expectation of progress Division of labor Socialism Science weds industry