mention the consequences of the industrial revolution in the economic field write a report 700 Words
Answers
The term “Industrial Revolution” was coined by Auguste Blanqui, a French economist, in 1837 to denote the economic and social changes arising out of the transition from industries carried in the homes with simple instruments, to industries in factories with power-driven machinery in Britain, but it came into vogue when Arnold Toynbee, the great historian, used it in 1882.
1. Meaning of Industrial Revolution:
The term “Industrial Revolution” was coined by Auguste Blanqui, a French economist, in 1837 to denote the economic and social changes arising out of the transition from industries carried in the homes with simple instruments, to industries in factories with power-driven machinery in Britain, but it came into vogue when Arnold Toynbee, the great historian, used it in 1882.
However, historians question the appropriateness of the term on the ground that the Industrial Revolution covers a period far too long to justify a single label. The period is from about 1740 to about 1850 in Britain and from 1815 to the end of the nineteenth century in Europe.
Moreover, the term “Revolution” is misleading for describing a complicated series of forces, processes and discoveries which worked very slowly but gradually and created a new economic organisation. It is contended that it is better to call it evolution and not revolution.
It is also suggested that instead of calling it the Industrial Revolution, it should be called “The Transition of Industrialism”. In spite of these objections, the term industrial Revolution is preferred and is in common usage.
Up to the middle of eighteenth century, European society was mainly agricultural. Whatever industries there were, were confined to the “domestic” sphere. There was no machinery or water- power or steam to work those industries.
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