Important Factors Leading To Industrial Revolution

1500 words - 6 pages

Nowadays, it is almost taken for granted that the industrial revolutions are theresult of changing technology and the proper application of that in the industrialproduction. However, from my point of view, these two factors did play a vital role instimulating industrial revolutions, but they were not the only catalyzer propellingmonumental development in industry. Influentially, the improvements inorganizations of politics, social patterns, commerce, finance, and transportation alsoaccounted for the prosperous phenomenon in the industrial revolutions. In this paper ,I am going to compareBritain in the First Industrial Revolution with the UnitedStates during the timeframe of Second Industrial Revolutions, and show how thepolitical , social, financial and transportation change encouraged the two countriesmoving into industrial revolution.1. Political changeBoth Britain and the United States sufficiently benefited from the politicalchangeover, in the form of favorable government policies to boost up theeconomy to a whole new level, that is , the industrial revolution.In Britain , the 1688 Glorious Revolution was regarded as the turning point inthe evolution of British government, which assured the rise of limited monarchy.Since then, it would be impossible to govern without Parliament. Several years later,--1of 8--in 1689, the Bill of rights was enacted in favor of the right to own private property,which also indicated that Britain henceforth steppped in the era of modern liberaldemocracy. This action was served as political support for creating efficientcredit(financial, banking) system in the futrure. With the political recognition ofproperty rights, togother with the provisions of financial system, an increasing numberof business began to engage in intra-conlonial trade, and the economy was expandedthrough this way. However, although the property of rights was recognized, it alsoensured tah tthe property rights of the poor should not stand in the way of theimprovements of the rich .( Reformation to industrial revolution, 144) As a result, thepoor was forced to be the loser under this condition , and thus the major socialdivision was now between the rich and poor, which accounted for the futrure unrest inthe society.The United States, on the other hand, did not had much to do as Britain withthe first industrial revolution since it only served as a mercantile colony to Britainuntil it claimed independence in the year of 1775. However, once after they gainedautonomy , the new government quickly adopted the protectionism and started tointervent in the market activities vigorouly. An array of new laws were set up,including Tariff policy and liberal banking regulations. Over the years, it alsobecame easier to form a limited liability corporation for any legitimate business--2 of 8--purpose. This development was crucial for the Second Industrial Revulution(American capitalism, 106) In addition, this protectionism also protected the infantmanufactures...

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