Industrial Revolution

Definition

The Industrial Revolution was a period of rapid economic and social change that transformed human society in the late 18th and early 19th centuries. It was characterized by the transition from an agrarian, handicraft economy to one dominated by industry, machine manufacturing, and the factory system.

5 Must Know Facts For Your Next Test

1. The Industrial Revolution began in Britain in the mid-18th century and later spread to other parts of Europe and North America.
2. Key innovations that drove the Industrial Revolution include the steam engine, mechanized factories, and the development of railways and steamships.
3. The Industrial Revolution led to significant economic growth, but also caused environmental degradation, exploitation of workers, and social upheaval.
4. The rise of industrialization and capitalism during the Industrial Revolution had a profound impact on the global economy and the distribution of wealth and power.
5. The Industrial Revolution played a crucial role in the development of modern international political economy and the advent of the liberal economic order.

Review Questions

• Explain how the Industrial Revolution impacted the right to a healthy environment.
  • The rapid industrialization and urbanization during the Industrial Revolution led to significant environmental degradation, including air and water pollution, deforestation, and the depletion of natural resources. This had a detrimental impact on public health and the overall quality of the environment, raising concerns about the right to a healthy environment. The environmental consequences of industrialization continue to be a major challenge in balancing economic development and environmental protection.
• Describe the role of the Industrial Revolution in the origins of international political economy.
  • The Industrial Revolution was a key driver in the development of the modern international political economy. The emergence of industrialized nations, the rise of capitalism, and the expansion of global trade and investment networks laid the foundations for the international economic order that emerged in the 19th and 20th centuries. The competition for resources, markets, and political influence among industrialized nations also contributed to the origins of international political economy and the tensions between economic and geopolitical interests.
• Analyze how the advent of the liberal economy was influenced by the Industrial Revolution.
  • The Industrial Revolution was a catalyst for the rise of the liberal economic order, which emphasized free markets, private property rights, and limited government intervention. The rapid growth of industry, the accumulation of capital, and the expansion of global trade networks during the Industrial Revolution aligned with the principles of liberalism, such as the promotion of entrepreneurship, the protection of individual economic freedoms, and the belief in the self-regulating nature of the market. This laid the groundwork for the emergence of the liberal economic paradigm that would shape international political economy in the 19th and 20th centuries.

Related terms

Capitalism: An economic system based on the private ownership of the means of production and their operation for profit, with a focus on competitive markets and wage labor.

Urbanization: The process of population migration from rural to urban areas, leading to the growth and development of cities.

Technological Innovation: The application of new technologies and inventions to improve production, transportation, and communication.