Industrial Revolution: From Agriculture to Capitalism
Agricultural Revolution
The Agricultural Revolution was a series of changes in agriculture that made possible a significant increase in food production, allowing the survival of a rapidly growing population. Three major agricultural innovations were changes in the cropping system, the introduction of new machines, and a new ownership structure. The Norfolk crop rotation system allowed for the suppression of fallow land. Turnips, clover, and alfalfa helped fix nitrogen in the soil, and increased forage production also increased livestock, whose manure improved soil fertility. The introduction of new planting methods, tools, crops, and fertilizers allowed for an increase and diversification of food production. The enclosure of common land was led by laws of enclosure.
Mechanization and the Factory System
The use of machines and the replacement of animate sources of power (human or animal labor) with inanimate sources (hydro and coal) resulted in the concentration of workers in buildings designed for production. This led to the ruin of many craftsmen, and individualized production was progressively replaced by the factory system. Mechanization began in the textile industry with John Kay’s flying shuttle (1733), new spinning machines (Spinning Jenny, Mule, Water Frame), and power looms. The final leap to new forms of production occurred when machines began to be powered by hydropower. However, it was the steam engine (James Watt, 1769) that became the symbol of the Industrial Revolution.
The Cotton Industry
Cotton was easy to wash, and when produced in large quantities, it was very cheap. Until the 18th century, cotton fabrics were imported from India. The beginnings of the textile industry date back to 1750, with the prohibition of the entry of cotton prints into Britain. The British textile industry experienced an unprecedented expansion. On the one hand, massive imports of cotton from India and the U.S. supplied raw materials to the sector. On the other hand, the involvement of simple inventions like the flying shuttle and spinning machines increased productivity and encouraged the growth of production.
New Transport
To transport raw materials and goods, roads were improved, and canals were built. But it was the railroad that caused a revolution in transport. Stephenson invented the locomotive in 1829, and the first railway line joined Liverpool and Manchester. In the early 19th century, Fulton applied steam to navigation, and in 1807, the first steamboat sailed down the Hudson River. Gradually, sailing ships were replaced by steamships. The construction of the railway changed social customs and created high expectations of economic development (stock market boom).
The Pulse of the Market
Improved transport infrastructure made possible the transition towards a market economy. The increase in agricultural and industrial production forced the search for new customers both at home and abroad. British commercial expansion came from foreign markets, and industries and traders took advantage of the opportunities offered by the Atlantic market. The transformation of greater significance was the development of an internal market that would allow for the generalization of trade. As a result, there was a significant increase in commerce, and the field of local and regional exchanges transitioned to an integrated market, both nationally and internationally.
Capital, Labor, and the Market
Capitalism is configured as a system in which the instruments of production and what is produced are privately owned. It focuses on a portion of the population called the bourgeoisie or capitalists, while the proletariat does not have employees or more than their ability to work in exchange for a wage. Employees and employers are related by a demanding market where employment and other job offers are exchanged for a price: the wage. Capitalism is a free enterprise system that is not planned and is aimed at the individual pursuit of maximum profit. Imbalances between supply and demand cause periodic crises that are corrected by adjusting costs (wages) or production (supply). Throughout the 19th century, subsistence crises disappeared. In these crises, products do not sell, prices fall, profits go down, businesses close, and unemployment increases.