Important Factors Leading to Industrial Revolution

Topics: Industrial Revolution, Capitalism, United Kingdom Pages: 11 (1620 words) Published: November 28, 2005
Nowadays, it is almost taken for granted that the industrial revolutions are the

result of changing technology and the proper application of that in the industrial

production. However, from my point of view, these two factors did play a vital role in

stimulating industrial revolutions, but they were not the only catalyzer propelling

monumental development in industry. Influentially, the improvements in

organizations of politics, social patterns, commerce, finance, and transportation also

accounted for the prosperous phenomenon in the industrial revolutions. In this paper ,

I am going to compareBritain in the First Industrial Revolution with the United

States during the timeframe of Second Industrial Revolutions, and show how the

political , social, financial and transportation change encouraged the two countries

moving into industrial revolution.

1. Political change

Both Britain and the United States sufficiently benefited from the political

changeover, in the form of favorable government policies to boost up the

economy to a whole new level, that is , the industrial revolution.

In Britain , the 1688 Glorious Revolution was regarded as the “ turning point in

the evolution of British government’, which assured the rise of limited monarchy.

Since then, it would be impossible to govern without Parliament. Several years later, --1of 8--
in 1689, the “Bill of rights’ was enacted in favor of the right to own private property,

which also indicated that Britain henceforth steppped in the era of modern liberal

democracy. This action was served as political support for creating efficient

credit(financial, banking) system in the futrure. With the political recognition of

property rights, togother with the provisions of financial system, an increasing number

of business began to engage in intra-conlonial trade, and the economy was expanded

through this way. However, although the property of rights was recognized, “ it also

ensured tah tthe property rights of the poor should not stand in the way of the

improvements of the rich”.( Reformation to industrial revolution, 144) As a result, the

poor was forced to be the loser under this condition , and thus the major social

division was now between the rich and poor, which accounted for the futrure unrest in

the society.

The United States, on the other hand, did not had much to do as Britain with

the first industrial revolution since it only served as a mercantile colony to Britain

until it claimed independence in the year of 1775. However, once after they gained

autonomy , the new government quickly adopted the protectionism and started to

intervent in the market activities vigorouly. An array of new laws were set up,

including Tariff policy and liberal banking regulations. “Over the years, it also
became easier to form a limited liability corporation for any legitimate business --2 of 8--
purpose. This development was crucial for the Second Industrial Revulution”

(American capitalism, 106) In addition, this protectionism also protected the infant

manufactures and brought it up to be a strong, competitive
industrial which was part of

the achievement in the Second Indutrial Revolution. Indeed, tariff policy at that time

was in favor of the business but not domestic consumers, and most of the regulations

about business, to some extent, helped large corporations exploit labor. Consumers

and labors were in unfavorable condition since they became the loser in this case.

Some could argue that those huge improvements in trading and financial

system, which propelled the countries towards industrial revulution, was the natural
result of the market mechanism, and it was the market itself demanded and achieved

Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Important factors leading to industrial revolution Essay
  • Industrial Revolution Essay
  • Essay on Industrial Revolution
  • The Industrial Revolution Essay
  • Industrial Revolution Essay
  • The Industrial Revolution Essay
  • The Industrial Revolution Essay
  • Essay about Industrial Revolution Leading to the Romantic Movement

Become a StudyMode Member

Sign Up - It's Free