Capitalism and the Industrial Revolution Essay

1783 Words 8 Pages
The Industrial Revolution of the eighteenth and nineteenth centuries was arguably the most important turning point in history. It transformed the manufacture of goods from craftsmanship to commercialism, exponentially increasing output and decreasing production cost leading to prosperity and an unprecedented supply of goods for the markets of the world. Industrialization and mass production was the fuel which ignited the flame of capitalism which was already established creating bringing sweeping changes in wealth and its distribution. Within a few generations the very fabric of society was virtually remade as millions left the farms and villages of the countryside for jobs in the cities. This monumental change did not immediately sweep …show more content…
The introduction of many new crops like corn, tomatoes and potatoes to Europe from the Americas previously had all but eliminated wide-spread famine in the region. These new food sources had also made Europeans healthier resulting in generally increased lifespans and more offspring generating a significant population increase in the region, thus creating more demand for the products and goods consumed by every growing society. The increased population also provided for an abundant labor pool of workers to man the factories which were to become the engines of the emerging industrial society of the west. Favorable environmental factors were important too. The availability of an abundance of ports and waterways and large coal and iron deposits fueled the early surge of the industrial revolution in the west.
The introduction of an a highly efficient steam engine by Thomas Watt in 1769 was undoubtedly a crucial factor in the advent of the industrial revolution. This made it possible for mills and later factories to be located nearly anywhere by eliminating the necessity of a running stream to provide power. It was the rise of the factory system of manufacture with its strategy for the specialization of labor which contributed most to the