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A Roberts loom in a weaving shed in the United Kingdom in 1835. The nature of the Industrial Revolution's impact on living standards in Britain is debated among historians, with Charles Feinstein identifying detrimental impacts on British workers, whilst other historians, including Peter Lindert and Jeffrey Williamson claim the Industrial Revolution improved the living standards of British ...
[12] Others argue that while the growth of the economy's overall productive powers was unprecedented during the Industrial Revolution, living standards for the majority of the population did not grow meaningfully until the late 19th and 20th centuries and that in many ways workers' living standards declined under early capitalism: some studies ...
The working conditions for "drawers" exemplify some of the changes following the Industrial Revolution. The Condition-of-England question was a debate in the Victorian era over the issue of the English working class during the Industrial Revolution. It was first proposed by Thomas Carlyle in his essay Chartism (1839).
During the First Industrial Revolution, the industrialist replaced the merchant as the dominant figure in the capitalist system. In the later decades of the 19th century, when the ultimate control and direction of large industry came into the hands of financiers, industrial capitalism gave way to financial capitalism and the corporation.
Thomas Robert Malthus, after whom Malthusianism is named. Malthusianism is a theory that population growth is potentially exponential, according to the Malthusian growth model, while the growth of the food supply or other resources is linear, which eventually reduces living standards to the point of triggering a population decline.
Şevket Pamuk and Jan-Luiten van Zanden also show that during the Industrial Revolution, living standards in Western Europe increased little before the 1870s, as the increase in nominal wages was undermined by rising food prices. The substantial rise in living standards only started after 1870, with the arrival of cheap food from the Americas.
Food production can also outpace population expansion, due to the industrial revolution. [34] Another limitation of this theory is the belief that overall income is a key factor of population health, [ 35 ] implying that wealthy countries will have various solutions for their rapidly rising populations. [ 36 ]
Engels' pause is a term coined by economic historian Robert C. Allen to describe the period from 1790 to 1840, when British working-class wages stagnated and per-capita gross domestic product expanded rapidly during a technological upheaval. [1]