Changes

Other countries lacked some of these factors of production, and it took decades or even a century to industrialize.  Historians claim that some countries, like Austria-Hungary and Spain, lacked the waterways needed by factories, or had too much hilly terrain.  But the real reason other countries did not industrialize as quickly as England and the United States is simple:  the other countries did not embrace free enterprise and the teachings of Adam Smith.  Industrialization depends on capitalism, free enterprise, and the benefits of competition.  In the United States, industrialization was enhanced by the structure of an entity known as the “corporation”, whereby investors provide capital without taking on risks any greater than the amount of their investment.

Other countries lacked some of these factors of production, and it took decades or even a century to industrialize.  Historians claim that some countries, like Austria-Hungary and Spain, lacked the waterways needed by factories, or had too much hilly terrain.  But the real reason other countries did not industrialize as quickly as England and the United States is simple:  the other countries did not embrace free enterprise and the teachings of Adam Smith.  Industrialization depends on capitalism, free enterprise, and the benefits of competition.  In the United States, industrialization was enhanced by the structure of an entity known as the “corporation”, whereby investors provide capital without taking on risks any greater than the amount of their investment.

Additional factors contributed to the Industrial Revolution.  Land declined as the major source of wealth, and more people could acquire different forms of wealth, such as cash, stocks, bonds or even intellectual property like books, music and paintings.  Man felt more confidence in controlling natural resources like oil and gas fields, and enjoyed exploiting nature for profit.  Political changes adapted to these social changes, and nations began to look to factories (which can make weapons) as the source of power.

Additional factors contributed to the Industrial Revolution.  Land declined as the major source of wealth, and more people could acquire different forms of wealth, such as cash, stocks, bonds or even intellectual property like books, music and paintings.  People felt more confident in controlling natural resources like oil and gas fields, and enjoyed exploiting nature for profit.  Political changes adapted to these social changes, and nations began to look to factories (which can also make weapons) as the source of power.

If you were a businessman or investor, then you loved the Industrial Revolution because it enabled you to make money without being a farmer, and gave you access to all sorts of goods and products that might not otherwise be available.  But some people, like Thomas Jefferson, felt that a farming lifestyle was important to the family unit and overall peace and well-being in society.  The Industrial Revolution did damage families and created a stressful lifestyle that exists today, such as many hours spent commuting to and from jobs each week.

If you were a businessman or investor, then you loved the Industrial Revolution because it enabled you to make money without being a farmer, and gave you access to all sorts of goods and products that might not otherwise be available.  But some people, like Thomas Jefferson, felt that a farming lifestyle was important to the family unit and overall peace and well-being in society.  The Industrial Revolution did damage families and created a stressful lifestyle that exists today, such as many hours spent commuting to and from jobs each week, and traveling to distant cities, away from the family.

There was a movement against the Industrial Revolution in England, called the “Luddites”.  They even rioted against it, destroying machinery that they opposed (see image above).  Today the term “Luddite” is used to refer to someone who resists using new technology, such as the internet.

There was a movement against the Industrial Revolution in England, called the “Luddites”.  They even rioted against it, destroying machinery that they opposed (see image above).  Today the term “Luddite” is used to refer to someone who resists using new technology, such as the internet.