Industrial Revolution

“In the industrial revolution Britain led the world in advances that enabled mass production: trade exchanges, transportation, factory technology and new skills needed for the new industrialised world.”(Lucy Powell quote). The mass production of goods allowed many countries to industrialize and increase the quantity of machine-made goods. The industrial revolution, starting in Great Britain has set many examples in the world of how we can mass produce a large number of products. This came with a number of positive and negative effects on the world.

The economic part of the Industrial Revolution ties into many different parts of the Industrial Revolution in many different ways. There are many examples of what impacted the development of the

They seemed to be always cheerful and alert, taking pleasure in the light play of their muscles. . . .As to exhaustion, they showed no trace of it on emerging from the mill in the evening; for they began to skip about. . . .It is moreover my firm conviction [opinion] that children would thrive better when employed in our modern factories, than if left at home in apartments too often ill-aired, damp, and cold.” (Noonan 3). As the factories were getting bigger as more people started to urbanize and more people started to buy houses closer to the cities. The small factory owners were the ones that were the most successful because they could move more products in a small amount of time, and that was a very good thing. Moving more products in a short period of time gave the small factory owners the ability to expand bigger or remain small. Larger factories borrowed money and was able to buy larger machinery and hire a larger amount of people to run the machinery to produce more product. When the factories got bigger they needed to have more people working and

Population doubled. The poor families sent children to work. Government had to develop labor laws. Keep the children out of the factories and make higher wages for the workers. People were working long hours. People’s health was poor due to environment. Coal was the main source of fuel. The smoke was hazardous to people’s health. The government developed labor laws keep children out of the factories. The government brought higher wages due to ongoing strikes. Entrepreneurs needed help from banking institutions to help secure capital in their business. The Alexander Hamilton bank of the U.S. received a special national charter from the U.S. congress in 1791 which allowed 8 branches of banks to open in the main cities at the national level. Later the federal government did not renew the charter. The banks changed from the national level to the states. More banks opened in