many factors aided industrial growth · 2013-04-29 · 4/29/2013 1 the industrial revolution...
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The Industrial Revolution
Western Civilization World History Perspectives on the Past
Chapter 22
Many Factors Aided Industrial Growth
Changes in farming led the way
A rise in population helped industry
Great Britain had many advantages
The Enclosure Movement
“...enclosure involved the removal of communal rights, controls or ownership over a piece of land and its conversion into ‘severalty’, that is a state where the owner had sole control over its use, and of access to it.”
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Jethro Tull's Seed Drill
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Robert Bakewell
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Britain's Advantages
Natural resources
Geography
Openness to new ideas
Good banking system
Political stability
The Map that Changed the World
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Elements of a Strong Banking System
• Stable Money (predictable value)
• Banks (the institutions themselves)
• Banking (the activities of the institutions, e.g., lending, risk management, etc.)
• Central Banks (regulation, oversight, “lender of last resort”)
• Securities Markets (financial intermediaries between borrowers/issuers and lenders/investors)
• All of the above were present in England during the Industrial Revolution
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Britain Led in theRise of Industry
Inventions revolutionized the textile industry
One invention led to another
Watt improved the steam engine
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Industry Grew & Spreadto New Lands
Engineers built roads and canals
The Railway Age began
Railways spread across England
Railroads had far-reaching effects
Industrialization spread to other countries
Britain led the world in industry
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Industry Changed Ways of Life
More people lived in cities
The Industrial Revolution changed working conditions
Children suffered in mills and mines
The middle class expanded
Class tensions arose
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% of Pop. In Agriculture
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