On account of renaissance and religious reformation movement in Europe, the materialistic thinking increased and due to this there was remarkable growth in commericalisation and industrial establishments.
This growth affected the economic, social and political spheres of system.
Meaning of Industrial Revolution : The term Industrial Revolution was used by European intellectual of France ‘Georges Michel’ and Germany’s ‘Cedric Engels’. The use of this word in English was utilized by philosopher and economist ‘Arnold Toynbee’ to explain the changes that led to industrial growth between 1760 AD and 1820 AD in England. Definitions of Industrial Revolution :
Different historians have given different definitions for Industrial Revolution.
- According to G.W. Southgate “Industrial Revolution was change in industrial system in which in place of handicrafts the work was taken from power-backed or controlled instruments and the change in industrial organisation was there. In comparison to running of industry in home the work shifted to industries”.
- According to C.D. Hagen “The mechanisation of cottage industry is Industrial Revolution.”
- According to Davin, “The meaning of Industrial Revolution is about changes that made possible that human sacrifice ancient or primitive methods of production for wide ranging mass production of articles or things from industries.
By the industrial revolution the following changes took place in Britain.
- Handcraft and cottage industries were replaced by machines.
- For the operation or control of machines in place of water power, steam power, fossil fuel and hydroelectric power was utilised.
- For the fulfillment of steel demand, the steel plants were opened.
- Agriculture became commercialised. In the agriculture work machines were utilised.
- The utility of capital increased and banking system developed.
- Loans, human labour and minimum production principle was introduced or adopted.
- Organised trade systems were developed to increase international trade.
- For the growth of transport facilities, rail engine and instrument driven vehicles or ships were utilised.
