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