how was the industrial revolution responsible for the destruction of the economy of a colony?
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Answer:
The Industrial Revolution, now also known as the First Industrial Revolution, was the transition to new manufacturing processes in Europe and the United States, in the period from about 1760 to sometime between 1820 and 1840. This transition included going from hand production methods to machines, new chemical manufacturing and iron production processes, the increasing use of steam power and water power, the development of machine tools and the rise of the mechanized factory system. The Industrial Revolution also led to an unprecedented rise in the rate of population growth.
The Industrial Revolution began in Great Britain, where a series of inventions increased the production of manufactured goods. Soon, people all over the world were turning to more complex machines that could perform tasks faster and more efficiently than human labor alone.
The textile industry led the way. Europe's population was growing in the 18th century, and merchants were clamoring for more and more textiles to make clothing for more and more people. Inventors got to work and developed a series of machines that transformed the industry. These innovations included the spinning jenny, which could produce several spools of thread at the same time; the spinning mule, which combined spinning and weaving in one machine; and the power loom, which used steam power for fast weaving. With such inventions, textiles could be produced in factories rather than at home with much greater speed, efficiency, and profit.
Answer:
In the period between 1775-1800, significant innovations occurred in the British cotton industry which increase their total output and the cost of the production declined. It created significant challenges for the Indian produced cotton which was high in prices. In addition, during this time period, the control and influence of British increased in the eastern region of the globe and their control on Indian sub-continent increased significantly. Furthermore, the policies of the British rulers of these colonies considered the need of increasing the market for British produced cotton. The British cotton was often produced in surplus quantity by using sophisticated machinery and was exported to the British colonies. The British cotton faced unequal competition from the indigenous cotton industry of the colonies. The prices of the British cotton industry were reduced to significantly to increase the dominance of the British cotton. It led to a decline in the indigenous cotton industry of the colonies and the domestic activities associated with the production of Indian cotton fell. The fall of the Indian cotton industry is one of the important factors behind the decline of Indian GDP under the British Rule. The standard of living of British increased from the middle of the seventeenth century and in the same period, the standard of living India decreased significantly. During the 1600s, the Indian GDP was 60 percent of the British GDP and by the end of the 19th century it decreased to less than 15 percent in comparison
The fall in the hegemony of Mughals reduced the overall productivity of agriculture and reduced the supply of grains. The grain was the primary consumption good for the Indian workers and was non-tradeable. The reduction in the supply of grain resulted in the rise of its prices. This rise in prices and negative supply shock led to a rise in the nominal wages in the cotton and weaving industry. The increased competition from British cotton and rising nominal wages reduced the profitability of the cotton industry of India. Thus, the negative supply shock in agricultural production is also an important reason behind the de-industrialization of cotton industries.
The short run as well as long run impact on living standards and growth rate of GDP providing agriculture sector competitive advantage with strengthening of the productivity advance on the land at home or increasing openness to world in turn increases GDP in the short run. The causes of de-industrialization are region or country specific as in the case of India in the 19th and 20th century. The colonial rule under British destroyed textile and handicrafts industries through their policies and introduction of machine made goods in to the Indian market. Some of the causes of de-industrialization in India during that period were:
• Introduction of machine made goods in the Indian subcontinent at a cheaper rate, which led to the destruction of the traditional textile industry of India.
• Tariff policy opted by the British led to the decay of the handicraft industry, the British government started using preferential trade policies under which British goods were entering in India duty free or no nominal duty payment while Indian exporters had to pay high duty on export goods to British Mainland.
• Internal Causes, as there were no efforts made to explore products for the Indian markets, the international trade market was in the control of international traders, the manually skilled laborers and traders associated with it were at the pity of the international trade merchants as far as supply or demand propagation in international trade markets was concerned. The guilds or craftsmen organization was also definitely very weak in India as compared to other nations.
• Changes in social conditions that resulted in consistent decline in manufacturing employment that requires access to raw materials and natural resources.
• British rule establishment also resulted in the loss of powers of the craftsmen organization and other bodies that used to supervise and regulate the trade, which results in the fall down of raw materials as well as the skilled laborers which further results in the decline of market value of the products
• The abolition of court culture and urban aristocrats resulted in decreased demand for these handicrafts as product demand for these dried
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