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INDUSTRIAL REVOLUTION OUTLINE (2)

INDUSTRIAL REVOLUTION OUTLINE (2) - INDUSTRIAL REVOLUTION...

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INDUSTRIAL REVOLUTION - Started in England in about 1780 - Going on during the same time as “reaction” to Napoleon (conservatism) o However, revolution favored liberal, modernizing principles and  legal rights proclaimed in French Revoltuion - Made Europe very powerful - Consisted of: o Production of wealth o Techniques of manufacture o Exploitation of natural resources o Development of new technologies o Formation of capital o Distribution of products to consumers - Enlarged business and wage earning classes, made it harder for rulers to  maintain complete control over public power - System: capitalism o Capital: wealth that is used to produce more wealth o Two forms of capitalism: 1. private ownership, capital owned by individuals 2. capital belongs to public, owned by state a. socialist - Favored liberal modernizing principles and legal rights Industrial Revolution in Britain - Shift from hand tools to machinery - Ascendancy of landowners - Agricultural Revolution o Improved methods of cultivation and stock raising o Improvement required:  Landlord with full control – which he did not have Investment of capital – impossible with all the poor and  custom-bound small farmers o  “enclosure acts” Authorized enclosure of old common lands – land came  under private ownership
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Land became concentrated in hands of small class of  wealthy landlords o Results: Raised productivity of land and farm labor More people become wage earners -
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