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The Industrial RevolutionHST 112 Lecture 4

Review:

-- French Revolution: Politics and Society

Today:

-- Industrial Revolution: Economics and Society

The “Dual Revolution”

The Industrial Revolution

• Why did the Industrial Revolution first take hold in Britain?

• What characterized the early industrial economy?

• What happened in other parts of Europe?

• What were some of the long-term effects?

Why Britain?Timeline:

1764 Invention of the spinning jenny

1776 Adam Smith, Inquiry into the Nature and Causes of the Wealth of Nations

1784 Watt’s rotary steam-engine

1793 Invention of the Cotton Gin

1825 First Railroad Built

I. Solving the Agrarian Problem

II. The Cotton Industry

III. Colonial Trade and International Commerce

Characteristics of the Industrial Economy

Timeline:

1776 Adam Smith, Inquiry into the Nature and Causes of the Wealth of Nations

1784 Watt’s rotary steam-engine

1793 Invention of the Cotton Gin

1825 First Railroad Built

1846 Repeal of the Corn Laws in Britain

I. Labor-- Urbanized; Rhythm of the Factory

II. Astounding Wealth

III. Economic Problems-- Business Cycles-- decline in the rate of profits

IV. Railroads

V. Supremacy of Business

What happened in the rest of Europe?

Timeline

1790s to 1815

Napoleonic Wars

1806 Continental System

1850-1870

Major Increase in

Production in

Continental Europe

1861 Emancipation of the serfs in Russia

1863 Emancipation Proclamation in USA

I. Industrialization in the “West”

-- France

-- Germany

II. Southern and Eastern Europe

III. What about the USA?

The Long-Term Consequences of the Industrial Revolution

• Industry and change become normal; “progress” expected

• Urbanization and the working class

• The problem of “underdevelopment”