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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 industrial revolution led to mass urbanisation, especially in Northern England. In period loosely dated from the 1770s to the 1820s, Britain experienced an accelerated process of economic change that transformed a largely agrarian economy into the world's first industrial economy.
The Industrial Revolution was accompanied by significant changes in the social structure, the main change being a transition from farm work to factory-related activities. [12] This has resulted in the concept of Social class , i.e., hierarchical social status defined by an individual's economic power.
Much of the new technology that accompanied the industrial revolution was for machines which could be powered by coal. One outcome of this was an increase in the overall amount of energy consumed within the economy, a trend which has continued in all industrialised nations to the present-day. [7]
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.
The increase in capital as a result of the Industrial Revolution led to increased demand for labour as a growing number of people moved to urban centres in search of employment. The large increase in urban population led to high unemployment; over 1.5 million people were unemployed in Great Britain during the early Industrial Revolution.
The Second Industrial Revolution, also known as the Technological Revolution, [1] was a phase of rapid scientific discovery, standardisation, mass production and industrialisation from the late 19th century into the early 20th century.