PBO 1.2 Industrial Revolution

Industrial Revolution

Question. What is the Industrial Revolution?
 Explain the consequences of the Industrial Revolution.

Answer : 

Introduction : The change in production tools and processes that first began in England and then spread throughout Europe is called the Industrial Revolution. The Industrial Revolution lasted for almost a century from 1750 to 1850. This is why England was first called the "birthplace of the Industrial Revolution".

Enthusiastic, courageous, ingenious researchers made various discoveries in England. Newer devices, such as James Watt invented the steam engine and George Stephenson invented the railway engine. His discovery gave a major impetus to the Industrial Revolution in England. The Industrial Revolution that began in England soon spread to Europe. This revolution took place in France and Germany after England. France and Germany made remarkable strides in the fields of iron, steel, and chemical industries, followed by the Netherlands, Belgium, and Spain. This was followed by the Industrial Revolution in the United States outside of Europe, followed by Japan in Asia. Japan made amazing progress in the field of steel machinery and chemical industry. The Industrial Revolution began in India at the beginning of the twentieth century.

The modern industrialization of India began in the year 1850. In 1853-54, railway system and wire production started in India. The main purpose of building railways in India was to export raw materials from India and to import manufactured goods. Nevertheless, the railways provided special assistance to Indian industries. Initially some yarn mills and coal mines were set up with Indian capital. After some time, paper and leather factories were started in India. In 1908, the first iron and steel factory was started in India. After the First World War, the development of industry in India got a real boost. By the end of World War II, India was one of the first eight industrialized nations in the world. India became completely self-sufficient in sugar, cement and soap. After independence, the progress of the Industrial Revolution got a fresh start. The National Government formulated a five-year plan for the overall progress of the country. The main objective of the Second Five Year Plan was to raise the level of industrial progress of the country. The major reasons for the Industrial Revolution were the agrarian revolution, the population explosion, the lifting of trade restrictions, capital and new technologies, colonies, nationalism, factory practices.

Consequences of the Industrial Revolution:

A) Economic Effects :

• 1) Urbanization
• 2) Development of banking and currency system
• 3) Free trade 

B) Social Effects:

• 1) Population growth
• 2) The rise of a new social class
• 3) Cultural change

Urbanization: Due to changing economic conditions, small scale industries in the village started declining. As a result, the village laborers started moving to the city in search of work as a large number of industries were set up there as employment opportunities were available there. Naturally the process of urbanization intensified. New towns developed around the coal industry as well as the industrial hub with abundant water availability.

Development of Banking and Currency System: The whole economic landscape changed after the Industrial Revolution. The role of banks and money became important in industry and trade. Banks facilitated transactions and increased the use of checks and drafts. There was also development in the field of currency. Paper coins came into circulation along with metal coins.

Free Trade: Due to the Industrial Revolution, the policy of free trade was adopted in place of defense disputes. England supported free trade by ending trade monopolies.

Population Growth: The Industrial Revolution gave rise to population growth. Technological experiments in the field of agriculture have increased the agricultural production and solved the problem of food for the people. Advances in good nutrition and advanced health and pharmacology have led to an increase in infants and the average life expectancy, a reduction in mortality, and an increase in population.

Emergence of a new social class: The Industrial Revolution gave birth to new classes. The first capitalist class consisted of merchants and capitalists. The second middle class consisted of factory inspectors, brokers, contractors, engineers, scientists, while the third class consisted of the working class who helped produce with their labor and skills.

Emergence of a new social class: The Industrial Revolution gave birth to new classes. The first capitalist class consisted of merchants and capitalists. The second middle class consisted of factory inspectors, brokers, contractors, engineers, scientists, while the third class consisted of the working class who helped produce with their labor and skills.

Thus the Industrial Revolution and its economic and social consequences become clear.

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