Industrial Revolution Essay

7952 WordsAug 8, 201432 Pages
Industrial Revolution : Accidental or Chance? In my opinion, I think the Industrial Revolution started in England (or Britain) was by chance. This revolution, which occurred between 1750 and 1830, happened because conditions were perfect in Britain for the Industrial Revolution. The following explanation will further strengthen my stand. English merchants were leaders in developing a commerce which increased the demand for more goods. The expansion in trade had made it possible to accumulate capital to use in industry. There also were new ideas in England which aided the movement. One of these was the growing interest in scientific investigation and invention. English scientists and engineers had a very practical bent of mind. They made inventions keeping in view the needs of the time. They con¬centrated mainly on those inventions of science which had practical utility. Another was the doctrine of laissez-faire, or letting business alone. This doctrine had been growing in favor throughout the 18th century. It was especially popular after the British economist Adam Smith argued powerfully for it in his great work 'The Wealth of Nations' (1776). For centuries the craft guilds and the government had controlled commerce and industry down to the smallest detail. Now many Englishmen had come to believe that it was better to let business be regulated by the free play of supply and demand rather than by laws. Thus the English government for the most part kept its hands off and left business free to adopt the new inventions and the methods of production which were best suited to them. The government and the bank provided incredible backing to new ideas, which soon turned into new wealth. England possessed a large amount of loanable capital obtained by the Bank of England from the rich trade of other countries. The most important of the machines that ushered in the

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