Industrial Revolution had both positive and negative results. On the one hand the production and trade experienced extreme growth, and on the other cottage industry sector was marginalised and people had to migrate towards cities.
The results of Industrial Revolution can be divided into four main categories :
(A) Economic results :
- By the use of Machines the production became faster and thus the workers had enough spare time on their hands. The saved time was utilised in other activities.
- The goods produced by machines were cheap and lasting due to which cottage industries received a setback and handmade goods declined.
- Banking system developed and there was growth in export import trade. As a result, the inter-dependence of countries grew.
- With the surplus production against requirement, economic balance was established.
- Big industrialists started investing in technology and production methods. As a result, the industrial capitalism grew.
- With the growth of industries and migration of rural population, the large cities were developed.
B. Social results :
- With the production of luxury goods the moral values of people declined.
- In order to get employed the rural population migrated towards cities and lost the joint family status.
- The society was divided into parts,
(1) Owner of the factory,
(2) Labour class. The differences between rich and poor deepened.
- Social unevenness increased, the human relations slid down. Industrailists became richer day by day and labourer more poor.
- In the industrial areas the polluted environment of labourers, and unhygienic conditions of living resulted in spurt of many epidemics.
- By the innovation of machines much of the labour force turned idle and this led to increase in unemployment.
C. Political Results :
- With the improvement in infrastructure, the demand for democracy in people increased. People were economically self-sufficient and this reason led to their interference in politics.
- Industrial Revolution promoted imperaliasm and colonolism. In the world, tension and stress increased and humanity had to face the first and second world wars.
D. Thought Patterns Results :
- Industrial Revolution gave birth to economic imperialism.
- Industrial Revolution gave birth to socialism. Every category in society received opportunities of employment.
