The most significant social consequences of the First Industrial Revolution
It is possible to identify two important effects of the Industrial Revolution. One of them is the changes in the standards of living. On the one hand, the technological progress deprived many low-skilled laborers as well as artisans of their employment because their work could be done by new machines.
For instance, one can speak about Luddites who destroyed cotton mills (Sievers, 2009, p. 28). As a result, their purchasing power decreased dramatically. However, the increase in productivity enabled people to purchase goods that were not accessible to them. For instance, one can speak about agricultural products (O’Brien, 1993, p. 73). This consequence is important because it is closely connected to the social disparities emerging in the nineteenth century. This is why this effect should not be overlooked.
Moreover, one should speak about the development of trade unions. These organizations were formed because workers were concentrated in factories, mills, or other manufacturing facilities.
As a result, they had more opportunities to organize their efforts and advocate improvements in their living conditions (O’Brien, 1993, p. 247). This effect of the Industrial Revolution is vital for explaining many tensions between workers and employees, especially at the end of the nineteenth century. So, this issue is also of great importance to historians.
The Industrial Revolution and the rise of capitalism
The First Industrial Revolution contributed to the intensification of commerce and this trend enabled many small businesses to increase their turnover and profitability. In this case, much attention should be paid to such inventions as steam engine which helped companies reduce their transportation costs (O’Brien, 1993, p. 60).
Furthermore, advancements in science and technology helped owners to increase the volume of production and extend their enterprises. Moreover, the increased availability of many goods enables some families to save more money. Some people chose to invest this capital in stocks of private companies. This is how the Industrial Revolution contributed to the rise of capitalism.
The rise of capitalism and the development of the communist theory
The growth of capitalism led to the development of communist theory. First, it should be noted that the competitive nature of capitalism resulted to the disparities in the standards of living. In turn, many philosophers began to think about the factors that could have contributed to this inequality.
One of the causes that they identified was the exploitation of workers and their political underrepresentation (Cypher, 2004, p. 95). Moreover, many of them attempted to predict the social and economic development of European countries. In this case, one should speak about the works of Karl Marx and Friedrich Engels. Their works contributed to the development of the ideology which relied on the notion of class struggle. Therefore, one can say that communism immerged directly out of capitalism.
The differences between capitalism and communism
The differences between communism and capitalism are related to such aspects as property ownership and management of resources. While capitalism supports private ownership of property, communism ideology is based on the rejection of private property.
Similarly, capitalism supports management of resources by private owners while communism implies that the resources should be managed by the state (Cypher, 2004, p. 212). This institution is also responsible for the distribution of wealth in the country. These differences are important because they can explain the hostilities existing between capitalist and communist regimes.
Reference List
Cypher, J. (2004). The Process of Economic Development. London: Routledge.
O’Brien, P. (1993). The Industrial Revolution and British Society. Cambridge: Cambridge University Press.
Sievers, M. (2009). Social Change in the 19th Century Novel. New York: GRIN Verlag.