Industrial Capitalism

Definition

Industrial capitalism is an economic system characterized by the investment of capital in industries that produce goods, primarily through mechanized means. This system emerged during the Industrial Revolution and marked a shift from agrarian economies to urban manufacturing, leading to significant changes in labor, production, and social structures.

5 Must Know Facts For Your Next Test

1. Industrial capitalism led to the rise of cities as people moved from rural areas to urban centers in search of factory jobs, drastically changing demographic patterns.
2. The emergence of a capitalist economy during this period created a distinct class structure, with a wealthy capitalist class (bourgeoisie) and a working class (proletariat).
3. Innovations such as the steam engine and power looms were crucial in advancing industrial capitalism, making production faster and cheaper.
4. Labor movements began to arise in response to the poor working conditions and long hours that were common in factories, advocating for workers' rights and better pay.
5. The effects of industrial capitalism extended beyond economics, influencing art, literature, and social theories as writers began to critique the impact of industrialization on society.

Review Questions

• How did industrial capitalism transform the labor force during the Industrial Revolution?
  • Industrial capitalism transformed the labor force by shifting work from agricultural settings to factory environments. Workers began to perform specialized tasks within a production line instead of engaging in diverse agricultural activities. This change led to a more structured work schedule with long hours and repetitive tasks, fundamentally altering the nature of work and leading to the formation of a distinct working class known as the proletariat.
• Evaluate the impact of industrial capitalism on urbanization and social class structures.
  • Industrial capitalism had a profound impact on urbanization as it prompted massive migration from rural areas to cities where factories were located. This migration resulted in rapidly growing urban populations, leading to overcrowded living conditions. Additionally, industrial capitalism created a clear divide between classes; a wealthy capitalist class emerged alongside a poor working class, resulting in tensions that eventually sparked labor movements advocating for social reforms and workers' rights.
• Analyze how industrial capitalism influenced literary works during its rise and the themes that emerged in response to its effects on society.
  • The rise of industrial capitalism significantly influenced literary works, as writers responded to the dramatic changes in society caused by industrialization. Themes such as alienation, social injustice, and the struggles of the working class became prevalent in naturalist novels. Authors depicted the harsh realities faced by workers in factories, highlighting issues like exploitation and environmental degradation. This literary movement aimed to critique the societal consequences of industrial capitalism while advocating for social change.

Related terms

Factory System: A method of manufacturing that brought workers and machines together in one place to produce goods on a large scale, significantly increasing production efficiency.

Capital Accumulation: The process of gathering and investing wealth to generate more wealth, which is a fundamental aspect of industrial capitalism as entrepreneurs sought to expand their businesses.

Proletariat: The working class who sold their labor for wages under industrial capitalism, often facing harsh working conditions in factories.