How Did The Industrial Revolution Contribute To Economic Change

To what extent did the technological developments of the Industrial Revolution contribute to economic change in this period?
Technological developments of the Industrial Revolution made a profound contribution to the economic changes in this period liberating labor and allowed for unbridled monetary developments. The Industrial revolution spanning the 150-year period between 1750 to 1900 saw exponential technological advancements in England which freed the average person from the confines of their muscle and allowed them to produce a greater amount on less time and resources; spurring on rapid socio-economic change and urbanisation. The technological developments of this period played an extensive part in economic change of this period through
Source C depicts the Spinning Jenny, a driving factor behind Britain’s Textile Industry, which in the Industrial Revolution, was dominated by machines such as these. The Spinning Jenny is shown in Source C to have eight spindles operated simultaneously through the rotation of a wheel to produce thread at a much higher rate of efficiency. The Spinning Jenny is also shown to be relatively small and maneuverable requiring very little skill to operate effectively which meant that labor costs were greatly decreased. This then allowed for companies producing textile in Britain to produce on an Industrial scale in a centralised location as opposed to the previous decentralised system of home production. This therefore allowed Britain’s Textile Industry to crush foreign competitors whose obsolete methods of muscle-based production proved too inefficient to compete with, effectively gaining Britain a textile monopoly. Through this global monopoly on textile owned by Britain, gained through technological advancements in production machines, Britain’s economy underwent massive influxes of money allowing it to greatly improve in terms of efficient distribution thus benefiting the