The Industrial revolution (1750-1850) witnessed changes in agriculture, manufacturing, mining, transportation and technology. It had a profound effect on the social, economic and cultural conditions of the times. In the second half of the 18th century, a new revolution gripped’ the world that it was not ready for.
This was neither political nor social or cultural in nature. But it led to many implications later in its existence. It was an economic one. It began in the United Kingdom and then subsequently spread throughout Western Europe, North America, Japan and eventually the rest of the world.
Industrial revolution marked a major turning point in history. Almost every aspect of daily life was influenced in some way. Most notably, average income and population began to exhibit unprecedented growth. After 18th century, the World’ average per capita income increased over tenfold while the world’ population increased over six times in the next two centuries.
The industrial revolution changed the way by how the world produced its goods. It also changed our society from being mainly an agricultural society to industrial and manufacturing one. It began in the field of textiles because there was more demand for cloth. Great Britain provided the legal and cultural foundations that enabled entrepreneurs to pioneer the industrial revolution.
Britain was the first country in Europe to begin the process of industrialization. It had a lead over the rest of the **** nations.
*Factors contributing to Britain’ lead were as follows:**
It had achieved Political stability after the Glorious Revolution of 1688.
National Banking system was the first of its kind in Europe, to invest with low interest rates.
The availability of Natural resources like coal and iron in Britain.
There was increase in population due to better health facilities, low mortality rate, better diet etc. This excess population gave rise to a larger work force, ready to work at low wages and there was also an increase in the number of consumers.
