Advantages to the Industrial Revolution in Early Modern...

Prior to industrialization, the population of Europe saw a dramatic growth – from 110,000,000 to 190,000,000. What triggered this growth? Likely the end of feudalism. The end of feudal contracts gave people a little more say in their day-to-day working activities, resulting in more time spent at home, which ultimately resulted in childbearing. This would leave citizens scrambling both to provide needs for the population as a whole, and to improve the individuals overall quality of life. This resulted in economists, like Adam Smith in The Wealth of Nations (1776), examining the most cost-effective method of producing the goods and services citizens demanded (such as clothing and food). It also left others, such as Thomas Malthus in his†¦show more content†¦This was essential because the population boom that occurred from 1650-1800, where population climbed from 110,000,000 to 119,000,000, created the need for materials food and clothing to be produced faster to sustai n growth. Machines such as the scribbling mill, and spinning jenny did the work of a hundred hands, for every single human hand. Initially these machines were met by workers with despair, as one machine in twelve hours could do the work of ten men by hand . These machines also reduced labour by a third, which resulted in an increase in wage for workers and it also worked to increase trade since nations were about to compete with one another for cheaper resources . From an economic standpoint this shift in labour was beneficial to the masses because instead of people exerting themselves to compete with other nations, machinery could just take on the majority of the work, assisting in this movement. This benefitted business owners because they did not need as many labourers, and they could also afford to lower taxes. Smith declares the ‘invisible hand’ as a necessity for society because capitalism drives people to seek cheaper sources, and in return if you provide that y ou will ultimately gain wealth. Adam Smith wrote in The Wealth of Nations that division of labour was the greatest improvement resulting from the industrial revolution. Division of labour was beneficial to both the employee and the employer. TheShow MoreRelatedThe Great Divergence : China, Europe And The Making Of The Modern World Economy Essay1726 Words   |  7 Pageshistory, the Industrial Revolution happened in England in the eighteenth century is definitely a turning point which triggers many scholars’ interests. Gregory Clark, the author of A Farewell to Alms: A Brief Economic History of the World, claims that the average person of 1800 was no better off than their remote ancestors of the Palaeolithic according to the Malthusian Trap. Then he focuses on solving three questions: Why did the Malthusian Trap persist so long? 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What sets Britain’s industrialization process apart from Japans is that it did not have a role model to base its development on; it was the first industrial nation. Therefore the cause of its industrialization must have much