Industrial Revolution
The industrial revolution brought changes in the manufacturing industry, which included changes from hand to machine production process, new advanced iron production, and chemical manufacturing. During the revolution, there was increased use of steam power, production machine development, and a rise in the factory system. Before the revolution, manufacturing was particularly done in people’s homes by use of hands and simple machines (ushistory.org 1). Therefore, this meant that the production process was slow and uneconomical due to the time taken in the process.
The textile industry was one of the major players in the industrial revolution being the biggest employer and a high return on capital invested (Lucas 1). In fact, the textile industry was among the first companies to adopt the modern production technology that enables mass production.
The industrial revolution started in Britain and spread its technological innovations to its colonies, especially in North America where British controlled the trading empire. Worth noting is that trade development was the major contributor to the industrial revolution (ushistory.org 1). The revolution marked a major turnaround of the economy since the average income began to show a steady growth. There was an improvement in the standards of living. The increased production led to the improvement of infrastructure so that the raw materials could reach the factory and the finished products get to the consumer in time. Additionally, the government encouraged the development of banking institutions and transportation network (Lucas 1). The mechanization in the industrial production played a major role in the industrial revolution since it led to more production and employed more people.
The industrial revolution was as a result of increased trade which needed to satisfy the market demands. It led to the development of machines which could produce more goods and at a faster rate. The demand for industrial products created employment, led to the development of infrastructure, and banking institutions. In this case, the economy expanded, hence improving the living standards.
