The Industrial Revolution

ORIGINS OF INDUSTRIAL REVOLUTION
1. WHAT WAS THE INDUSTRIAL REVOLUTION?
  1. Period of profound economic and social changes, caused by the increasing use of machinery in production.
    1. Agrarian societies gradually changed into industrial ones.
      1. All changes began in Britain (2nd half of 18th century)
        Two stages:
        1st Industrial Revolution (started 1760)
        2nd Industrial Revolution (started 1870)
2. DEMOGRAPHIC REVOLUTIONS
  1. English population started to grow in the late 18th century
    1. Death rate decreased and birth rate remained high.
      1. This decrease was caused by several reasons
        Improvements in nutrition and advances in agriculture and diets.
        Personal and public hygiene improved, with cleaner people, streets and water.
        Advances in public health, such as the vaccine against smallpox, and the construction of new hospitals.
        All of the new advances caused fewer deaths by epidemics.
      2. More demand for agricultural and insdustrial products.
      3. More jobs appeared.
3. AGRICULTURAL REVOLUTION
  1. Innovations in agriculture and livestock due to increased demand for food.
    1. Farming techniques
      1. Four-field system of crop rotation replaced the three-field system.
        Manure, a natural fertiliser, increased due to better fed livestock.
        Iron plough replaced the wood plough (late 18th century)
        New farming techniques introduced.
    2. Land ownership and use
      1. Land became private property
    3. Livestock farming
      1. Part of the land was used to grow fodder (food for livestock), so livestock increased.
  2. Primary sector production increased
    1. More income for farmers, who started to be able to save money.
4. OTHER FACTORS AFFECTING ECONOMIC GROWTH
  1. Extensive markets
    1. British domestic market had good infrastructures and no domestic tariffs.
      1. Products sold in many foreign colonies
        Trade made a lot of profit, which was invested in new industries.
  2. New mentality
    1. Bourgeoisie was more open to investment, business risk and pursuit of profit.
  3. Abundance of iron and coal
    1. Necessary to build and run new factories.
THE FIRST INDUSTRIAL REVOLUTION
1. FROM WORKSHOP TO FACTORY
  1. Until the 18th century, most products were made in workshops.
    1. In late 18th century, new machinery was invented, which manufactured products more quickly.
      1. Factories replaced workshops.
        First machines were powered by hydraulic energy
        Then, steam engine invented (steam-powered)
        Division of labour established, which increased production and productivity
2. THE TEXTILE INDUSTRY
  1. A lot of cotton grown in Britain, which made their textile industry have a cheap and abundant raw material.
    1. Textile industry was the first to introduce technical innovations in spinnign and weaving.
      1. British textile industry expanded with the introduction of steam-powered machines.
        Cotton British products were sold internationally.
        The textile boom also increased activity in other sectors
3. THE IRON INDUSTRY
  1. Until 18th century, most iron in Britain was imported from Sweden.
    1. After 1709, Abraham Darby invented the blast furnace to smelt iron using coal-derived products.
      1. Henry Cort invented a new furnace in late 18th century, able to make lots of wrought iron.
        More demand for machines and tools due to more iron manufacturing.
4. ECONOMIC LIBERALISM
  1. Liberalism spread greatly during the 1st stages of the Industrial Revolution.
    1. Adam Smith thought economic activities should be governed by principles of economic freedom (in which ''freedom'' meant freedom to create companies, hire workers...)
      1. He thought of guilds as obstacles and believed the state shouldn't intervene in economy.
        He said this because of how prices and salaries are regulated by the Law of supply and demand.
        He defended division of labour, as it increased production and productivity.
THE TRANSPORT REVOLUTION
1. ADVANCES IN NAVIGATION
  1. Fast and safe transport was needed because of the growth of industrial production in Britain.
    1. Before the 18th century, road travel was slow, dangerous and uncomfortable; after 1750, new roads built and old ones repaired.
      1. River travel was still cheaper, so many canals were constructed.
        Steam engine was soon used in navigation, and in 1807 the first line of commercial steamboats appeared.
        Only used for river travel at first, then became more used in the sea.
2. THE RAILWAY AGE
  1. Railway was possible due to 2 advances
    1. Iron, used to build trains and railways.
    2. Steam engine, used to power locomotives.
  2. First steam-powered locomotive built, followed by the appearance of the first cargo railway and the opening of the first public transport railway.
    1. Railway transported products to their markets safely and fastly.
      1. Railways were built all over the world, even intercontinentally.
3. IMPACT OF THE TRANSPORT REVOLUTION
  1. TRADE
    1. Transport times and costs reduced.
      1. It was also easier for people to travel.
  2. SPECIALISATION IN WORLD ECONOMY
    1. Industrialised countries specialised in manufacturing and exporting.
      1. Colonies provided them with raw materials.
  3. MINING, METALLURGY AND IRON INDUSTRY
    1. They provided raw materials for the construction of means of transport, so the industries strenghtened.
  4. DAILY LIFE
    1. Nutrition improved.
      1. Easier to emigrate to distant places.
THE SECOND INDUSTRIAL REVOLUTION
1. NEW ENERGY SOURCES AND INDUSTRIES
  1. 2 new energy sources
    1. ELECTRICITY
      1. Used to power machines, trains, railways or forms of communication.
    2. PETROLEUM
      1. First oil was drilled in 1859
        It became more important because of the invention of combustion engine.
  2. Some industries grew in importance
    1. IRON AND STEEL INDUSTRY
      1. It expanded after the invention of Bessemer converter
        This produced large amounts of steel at a low price.
    2. CHEMICAL INDUSTRY
      1. Raw materials were used to make new products.
    3. ELECTRICAL INDUSTRY
      1. Electricity was produced and distributed at a large scale.
  3. USA and Germany continued being being the leading industrial powers.
2. LARGE COMPANIES AND BANKING
  1. When the Industrial Revolution began, small and single-owner companies were common.
    1. Family businesses didn't have enough money to hire workers or buy machinery.
      1. Corporations were created.
        In them, the capital was divided into shares, which were traded on the stock market. Whoever bought them participated in the business as a shareholder.
        Banks became important institutions, due to them lending money to companies or being intermediaries between companies and private individuals.
        Individuals saved money on banks, which invested in on industries or businesses.
        Financial capitalism was born.
3. NEW SYSTEMS OF PRODUCTION
  1. In the late 19th century
    1. TAYLORISM
      1. F. Taylor invented a production process divided into small and timed tasks.
        Each worker specialised in one task, and was paid accordingly to it.
    2. ASSEMBLY LINE
      1. Used by Henry Ford on his automobile factory.
        Produced pased form one worker to another.
    3. MASS PRODUCTION
      1. Assembly line use prepared the way for mass production.
        Many parts of the product were manufactured, then everything was put together.
        Lots of good made, production costs reduced.
  2. Different types of corporate groups emerged.
    1. CARTEL
      1. Association between companies in the same line of business.
        They did agreements to control production and distribution, and to set prices.
    2. HOLDING COMPANY
      1. Controls other companies because of owning most of their shares.
    3. TRUST
      1. Association of companies, which covered all stages in manufacturing together.
        Their goal was to control the market and to eliminate competititon.
  3. Government sometimes regulated cartels and trusts if they created unfair monopolies.

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The Industrial Revolution

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