Introduction
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Industrial revolution refers to dramatic change in the main sectors of economy such as agriculture, transportation and manufacturing. Industrialization was associated with major benefits such as rise in people’s living standards, increased job opportunities and economic growth, among others.
According to historians, Great Britain was the first nation in the entire globe to industrialize. Industrialization in Britain started in the late eighteenth century. The following essay examines the factors that led to Britain’s industrialization in the late eighteenth century.
Factors that led to Britain’s industrialization in the eighteenth century
By the second part of the eighteenth century, Great Britain was regarded as one of the wealthiest nation across the globe due to industrial revolution. The following factors explain why Industrial revolution occurred in Britain;
Agricultural revolution of the eighteenth century was one of the factors. According to historians, agricultural revolution was characterized by a change in stock breeding and farming methods which in turn enhanced food production in Great Britain. Framers adopted a commercial approach as opposed to the past where they produced food for domestic use.
The large demand of food commodity from London motivated workers to increase their production. Landlordism, which refers to the act of owning large estates, was also a main factor that enhances commercialization of British agriculture. Agricultural revolution helped to lower the food commodity prices in Great Britain.
The cost of labor also lowered as a result of agricultural revolution. British government was therefore in a position to feed its citizens. British families thus, used their disposal incomes to buy manufactured products. Increased food production in Great Britain caused the population to increase. Population growth played a major role in providing the required labor in the new factories.
The other factor which led to Britain’s industrialization in the eighteenth century is the availability of capital for investment. Financial reforms which included introduction of derivatives such as swaps and options also enhanced the industrial revolution in Great Britain. Additionally, the revolution was boosted by the presence of effective central namely Bank of England.
The financial system in the Great Britain was highly effective compared to other European nations like Spain and Italy. The introduction of financial instruments such as bill of exchange made it possible for people to make payments. Political powers in Great Britain were based on economic and technological matters. Thus, the country had a large number of individuals whose main objective was innovation for development (Arnstein 72).
A study which was done by Arnstein (20) suggested that the presence of huge mineral deposits also enhanced industrialization in Great Britain. Britain is a country which is rich in mineral deposits such as iron ore and carbon fuel. Mineral resources played an important role in the manufacturing process. Iron was used in the production of new machineries. The country’s size was relatively smaller and this enhanced transportation of minerals.
The availability of ready market for manufactured goods led to Britain’s industrialization. Availability of ready market ensured that goods from Great Britain were absorbed as fast as they were produced. The country’s exports increased significantly during the late part of the eighteenth century.
During the colonial times, the nation had created an immense colonial empire. The colonial empire made the country to export goods to many parts of the world, compared to its key rivals such as Holland and France. The development of merchant marine made it possible for the country to transport goods throughout the world. Also, Britain’s railroad created a faster and cheaper means of transportation for the manufactured goods.
This had major impacts on the markets as it increased demand for goods and services. Britain’s railroad connected the major towns such as London, Manchester and Liverpool and this helped to spur trade. As a prerequisite to create conducive atmosphere for vibrant economic growth, the British government heavily invested in infrastructural developments.
Among the infrastructural developments that were made include the invention of steam engine. The invention of steam engine also played an important role in enhancing productivity of goods in Great Britain. It facilitated trade in the European region through easier market access by linking Britain with neighboring countries like Spain and Germany. Construction of infrastructural facilities was also enhanced by plenty supply of water from rivers (Arnstein 18).
According to Arnstein (56), Industrialization in Great Britain was also enhanced by the country’s ability to produce goods cheaply. The adoption of machinery in production of goods led to mass production and reduced the cost of production. The invention of flying shuttle led to mass production of yard goods.
In addition, factories were located near rivers and sources of power, which in turn enabled manufacturers to double their output. Great Britain also protected its key industries such as textile by discouraging imports.
The newly created factories provided jobs to thousands of families in Great Britain. In order to ensure that factory machines run at a steady rate, employees were required to work in shifts. Factory managers mainly employed workers from rural areas as they were regarded as hard working. This made people to live near factories and this in turn helped to create new towns.
Arnstein (36) in his study suggested that, the British government made substantial efforts in enhancing industrialization in the late eighteenth century. The government provided investors with a stable business environment. The parliament passed laws which safeguarded private property.
Additionally, Great Britain adopted capitalism form of economy which advocates for private ownership of resources. There were thus, no restrictions on private ownership of resources in England. The government did not intervene with regard to tariffs and taxes. The government also ensured that the credit system was flexible for private investors. The free market economy ensured that individuals’ had rights to own property and dispose off natural resources and man-made resources as they wished.
It also provided the owners of property with the right income, generated from the resources. Workers were also free to enter into any occupation for which they were specialized in. There was the aspect of self interest in pursuit of personal goals. Factories aimed at maximizing production and profits, land owners aimed at achieving maximum rent, workers shifted to occupation which offered the highest rewards and buyers spent their incomes in the way that satisfied the people most.
Conclusion
Industrial revolution in Great Britain in the late part of eighteenth-century was facilitated by factors such as the availability of resources for production, geographical advantages, such as the presence of streams and rivers which provided factories with water, financial reforms which resulted in extra capital for investment, among others. Industrial revolution in Great Britain brought about changes such as technological advancements, mass production, creation of new urban centers and efficient transport systems, among others.
Works Cited
Arnstein, Walter. Britain yesterday and today: 1830 to the present, Edition5. London: D.C. Health, 1988.