How did economic impact of the Industrial revolution create a wide gap between the rich and the poor?
Answers
Answer:
Industrial revolution had a great impact on the European society. Explain. ... ✔️✔️✔️
➡️Many peasants and landless labourers came along with their families to industrial cities in search of a livelihood. Men, women and even children were employed in factories..⬅️
➡️Industrialization had many positive effects on society in Europe in the 18th and 19th centuries. The creation of power machines and factories provided many new job opportunities. The new machinery increased production speed of good and gave people the ability to transport raw materials....⬅
✌️✌️Hope it helps you ❣️
Answer:
Financially, industrialization results in a wide gap between the rich and poor due to a division of labor and capital. Those who own capital tend to accumulate excessive profits derived from their economic activities, resulting in a high disparity of income and wealth.
Although processes were largely simplified by the introduction of new methods and machinery, industrialization introduced new problems. Its environmental drawbacks include the pollution of air, water, and soil that can result in significant deterioration of quality of life and life expectancy. Because of industrialization, there is a significant separation of labor and capital.
Those who own the means of production become disproportionately rich, resulting in high-income inequality. The migration of workers, the separation of family members, long working hours, and overcrowding that result from industrialization can lead to social tension and diseases due to poor nutrition and stress.