IGNOU HISTORY NOTES : History Of Modern Europe (Mid 18th to 20th Centuries)- INDUSTRIAL CAPITALISM IN ENGLAND

IGNOU HISTORY Study Notes for IAS, UPSC Exams

History Of Modern Europe Mid 18th to Mid 20th Centuries

INDUSTRIAL CAPITALISM IN ENGLAND

Structure

9.0 Objectives
9.1 Introduction
9.2 The lmportance of the Industrial Revolution of the Eighteenth and Early Nineteenth Centuries
9.3 A Background to the Rise of lndustrial Capitalism in Eighteenth and Early Nineteenth Centuries England
9.3.1 Commercial Production - Nature
9.3.2 Population Increases
9.3.3 Supply of Capital
9.4 Manufacturing Industry
9.41 Innovation and its Impact
9.4.2 Soctal Stimulus to Entrepreneurship
94.3 Consequences
9.5 Markets And Demand
9 5.1 The Role of the State
9.6 Rehabilitating the lndustrial Revolution
9.61 The Gradualist Argument and Its Critics
9.7 Consolidation of lndustrial Capitalism After 1840
9.7.1 The Importance of Railways
9.7.2 Innovations
9.7.3 Capital
9 7.4 Competitlon and the Colonial Market
9.8 Let Us Sum Up
9.9 Keywords
9.10 Answers to Check Your Progress

9.0 OBJECTIVES

After reading this Unit, you should be able to :

• understand how certain historians have chosen to correct the emphasis on 18Ih and 19th Century England as a significant period for industrial revolution,
• understand why even these historians are correct on the whole in seeing the lgth and early 19th century as a decisive period for the growth of industrial capital in England,
• understand the importance of the agricultural revolution preceding the industrial revolution in seventeenth and early eighteenth century,
• understand how the interlinkages of supply of capital, various modes of manufacture, innovation, trade and market in the eighteenth and early nineteenth centuries gave a fillip to the growth of industrial capital, and
• understand how after 1840 with the emergence of newly industrialising nations like tiermany and U.S.A., the character of industrialisation took a new turn.

9.1 INTRODUCTION

In the history of the rise of industrial capitalism, it has been England that has held pride of
place. This was the "first industrial nation", and, as mentioned above, it has even become .
customary to regard all other "industrializations" as determined by what was seen in England.
Since England has such a special place in the origins of industrial capitalism, this Unit pays
special attention to the beginnings of industrialization there. It is divided into two sections: (i)
the industrial revolution (c. 1740- 1840) (ii) the consolidation and crisis of industrial capitalism
in the mid and late nineteenth century. 

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