How was the Industrial Revolution able to happen?
Investments by wealthy land owners and colonies
- Industries could grow and increase their productions with investments.
- India provided Britain with cheap and reliable materials to increase textile production.
- Water pumps to clear out coal mines, the basic material of energy production, through investments in innovative technology.
Freer Political Institutions
Agricultural Revolution
- Created a favorable climate for Industrialization.
- Increase of food production, surplus.
- Encouraged people to begin their own innovations
- The search for wage labour, resulted in workers for the new industries.
- Financial institutions, such as banks, also financed factories.
- British government provided the capitalist with laws that protected private property.
Mineral Resources
Transportation
Technology Innovation
1764: James Hargreaves - Spinning Jenny
1787: Edmund Cartwright - Power Loom
1760: James Watt - Steam Engine
Sulfur: used to bleach the clothes
Lead: used in industries to create machinery
Iron: used in locomotives and train tracks
"Wages were high and energy was cheap. These prices led directly to the Industrial Revolution by giving firms strong incentives to invent technology that substituted capital and coal for labor."
Change in the production of Iron.
- Colonial empire - supply of consumers to purchase its manufactures.
The creation of medicines
Steam engine made it possible for the locomotive to exist
Made transportation easier end efficient in long distances
