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The Industrial Revolution HST 112 Lecture 4 Review: -- French Revolution: Politics and Society Today: -- Industrial Revolution: Economics and Society The “Dual Revolution”

The Industrial Revolution Why did the Industrial Revolution first take hold in Britain? What characterized the early industrial economy? What happened in other parts of Europe? What were some of the long-term effects?

Why Britain? Timeline: 1764 Invention of the spinning jenny 1776 Adam Smith, Inquiry into the Nature and Causes of the Wealth of Nations 1784 Watt’s rotary steam-engine 1793 Invention of the Cotton Gin 1825 First Railroad Built I.Solving the Agrarian Problem II.The Cotton Industry III.Colonial Trade and International Commerce

Characteristics of the Industrial Economy Timeline: 1776 Adam Smith, Inquiry into the Nature and Causes of the Wealth of Nations 1784 Watt’s rotary steam-engine 1793 Invention of the Cotton Gin 1825 First Railroad Built 1846 Repeal of the Corn Laws in Britain I. Labor -- Urbanized; Rhythm of the Factory II. Astounding Wealth III. Economic Problems -- Business Cycles -- decline in the rate of profits IV. Railroads V. Supremacy of Business

What happened in the rest of Europe? Timeline 1790s to 1815 Napoleonic Wars 1806 Continental System Major Increase in Production in Continental Europe 1861 Emancipation of the serfs in Russia 1863 Emancipation Proclamat ion in USA I. Industrialization in the “West” -- France -- Germany II. Southern and Eastern Europe III. What about the USA?

The Long-Term Consequences of the Industrial Revolution Industry and change become normal; “progress” expected Urbanization and the working class The problem of “underdevelopment”