Tuesday, January 7, 2020

The Standard Of Living During The Industrial Revolution...

Henry Ziegler 10044371 Prof. Frank Lewis ECON 231 Thursday, November 20, 2014 Analysis on the Standard of Living in the Industrial Revolution Debate Before the Industrial Revolution, Great Britain’s economy relied heavily on agriculture, which at that point of time was based a flawed system dating back to the Middle Ages. This system, known as the open field system, showed agricultural inefficiencies, and was disallowing of innovation. These inefficiencies eventually led to the privatization of land for agriculture, in an effort to solve what is now commonly referred to as â€Å"the tragedy of the commons†. Great Britain was now moving forward, and as the country (and continent) began enclosing their land, Britain began a period of modernization, with new technologies that would increase productivity in industry to a level never before seen. This is the period commonly referred to as the Industrial Revolution, and was an era of unprecedented growth in industry from the middle of the 18th century until around the middle of the 19th century. In 1760, 53% of the British population worked in agriculture. By 1840, that had dropped to 29%. The evolution from water and wind power to steam engines, as well as the creation of many pieces of machinery for the textile industry (such as the Spinning Jenny, which reduced the production time on yarn) vastly improved British manufacturing of goods, and the reliance on agriculture continued to drop. The development from an agricultural focusShow MoreRelatedPrior To The Industrial Revolution, Which Began In Britain1542 Words   |  7 PagesPrior to the Industrial Revolution, which began in Britain in the late 1700s, manufacturing was often done in people s homes, using hand tools or basic machines. 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