The Pros And Cons Of The Industrial Revolution

We live in a fast pace world and almost everything changes daily. Most of the goods that

we use are mass produced in very large quantities. The basic rule of thumb in economics dictates

that the more goods produced leads to less production cost per item. The cost of living decreases

with industrialization and technology but industrialization also brings up its own problems.

Agricultural economy is fueled by farming. Farmers play an important role in any society because

they feed people. Farming has been valued in almost every nation. Farmers has known to be the

nation's life and farmers were seen as an example of economic virtues such as hard work, self- sufficiency, initiative, pride and productivity. On the other hand,
As Joseph Montagna mentioned that the major change was the migration of people from rural areas to urban areas (Montagna, 1981). This brought both advantages and disadvantages for the society as a whole in England. One of the advantaged that people started work for higher wages in industries and housing conditions improved (Montagna, 1981). Following this, higher wages and improved conditions in housing allow people to get married in earlier ages which lead high population growth. Montagna showed the reasons behind high population which were a decline in the death rate, an increase in the birth rate, elimination in the diseases, and increase in the availability of food (Montagna, 1981). This means that England was in the second stage of the demographic transition. The one of the Industrial Revolution advantages was that it introduced inexpensive mass produced manufactured goods to the market and this also lead to increased trade between nations. Before the Industrial revolution, most of the agricultural goods were household consumption; however, the technological advance leads to increased yield for agricultural products. There was very little international trade done before revolution. On the other hand, Industrial Revolution also had a dark side in its early days. For Instance, the revolution brought exploitation of workers, slums and great
China is the largest country in terms of population in the world. However, The Chinese government allows one child per family in order to control population; however, the total fertility rate is below from the replacement level. The reason is for that Authoritarian regime is to increase the availability of jobs, standards of living, and better working environment (Dutta, 2004). In addition, China has been known as agricultural country where the majority of citizens are farmers. In recent 50 years, there has been a massive industrialization effort which made China one of the powerful players in the world economy. As we have seen from data, Chinese agricultural share of GDP dropped from 42.2 to 11.9 between 1970- 2000; industry and service sectors increased their share in Chinese GDP (Dutta, 2004). This does not mean that Chinese agricultural output dropped; there was large productivity gain per unit of labor which means that there is less labor need to produce the same output. This also increased the availability of workers for manufacturing sector and farmer’s income (Dutta, 2004). On the other hand, as we have seen from the labor surplus model, if more and more worker withdraws from agriculture, the food supply is going to drop and prices are going to go up. In addition to this problem, workers in the industry start to work for low