The Industrial Revolution The Industrial Revolution (W. Europe, U.S., Russia, & Japan)(W. Europe, U.S., Russia, & Japan)

Late 18Late 18thth century through the century through the 1919thth century century

““No movement in human history did No movement in human history did more than the Industrial Revolution to more than the Industrial Revolution to changechange the way people live. It has the way people live. It has provided humanity with great provided humanity with great benefitsbenefits, , and at the same time, it has destroyed and at the same time, it has destroyed people with its people with its less fortunate less fortunate consequencesconsequences.”.”

Industrialization started in Great Britain, then Industrialization started in Great Britain, then spread to other parts of Western Europe, the spread to other parts of Western Europe, the

U.S., Japan, & Russia in the 18U.S., Japan, & Russia in the 18thth century. century.

Industrialization led to new patterns of production that changed how goods were made & consumed.

home to factory productionhome to factory production

Machines using fossil fuel powered engines were used to increase production (replacing human, animal, and water power).

Textile Industry in Britain: where Textile Industry in Britain: where the industrial revolution began.the industrial revolution began.

Factors leading to the rise of Factors leading to the rise of industrial production . . .industrial production . . .

Abundance of rivers & canals and access Abundance of rivers & canals and access to coal, iron, & timberto coal, iron, & timber

Population increases and urbanizationPopulation increases and urbanization Improved agricultural productionImproved agricultural production Legal protection of private propertyLegal protection of private property Access to foreign resourcesAccess to foreign resources Accumulation of capitalAccumulation of capital

Development of the factory system concentrated labor and led to an increasing degree of specialization of labor.

Developments in transportation and communication.

Railroads, Steamships Canal networks Telegraph

A 2nd industrial revolution led to new A 2nd industrial revolution led to new methods in producing steel, chemicals, methods in producing steel, chemicals,

electricity and precision machinery.electricity and precision machinery.

To meet the need To meet the need for investments in for investments in all levels of all levels of industry, industry, financiers financiers developed developed various financial various financial institutions.institutions.

The Bottom LineThe Bottom Line ““Industrialized” nations were Industrialized” nations were

able to make better stuff faster able to make better stuff faster than anywhere else in the world. than anywhere else in the world.

Global trade changed Global trade changed as as industrialists sought raw industrialists sought raw materials and new markets for materials and new markets for factory goods.factory goods.