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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 ...
The Industrial Revolution improved Britain's transport infrastructure with a turnpike road network, a canal and waterway network, and a railway network. Raw materials and finished products could be moved more quickly and cheaply than before. Improved transportation also allowed new ideas to spread quickly.
The Industrial Revolution spread southwards and eastwards from its origins in Northwest Europe. After the Convention of Kanagawa issued by Commodore Matthew C. Perry forced Japan to open the ports of Shimoda and Hakodate to American trade, the Japanese government realised that drastic reforms were necessary to stave off Western influence.
During the Industrial Revolution Britain’s economy had begun to boom, to keep it booming the City of London needed a whole new set of financial machinery. The Bank of England was already in place, the Stock Exchange got going in 1773, and in 1771 Lloyds underwriters established their own premises just down the road.
The effects spread throughout Western Europe and North America during the 19th century, eventually affecting most of the world, a process that continues as industrialisation. The historian Emma Griffin has placed particular emphasis on the role of the steam engine in the making of Britain's Industrial Revolution. [51]
The effect of industrialisation shown by rising income levels in the 19th century, including gross national product at purchasing power parity per capita between 1750 and 1900 in 1990 U.S. dollars for the First World, including Western Europe, United States, Canada and Japan, and Third World nations of Europe, Southern Asia, Africa, and Latin America [1] The effect of industrialisation is also ...
The Industrial Age is a period of history that encompasses the changes in economic and social organization that began around 1760 in Great Britain and later in other countries, characterized chiefly by the replacement of hand tools with power-driven machines such as the power loom and the steam engine, and by the concentration of industry in ...
"The most obvious and the most distinctive feature of the History of Civilisation, during the last fifty years [1837–87], is the wonderful increase of industrial production by the application of machinery, the improvement of old technical processes and the invention of new ones, accompanied by an even more remarkable development of old and new means of locomotion and intercommunication."