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Industrial Revolution Capitalism and Communism - Essay Example

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Summary
Two of the major social consequences of the industrial revolution are:
First, significance of the organization of laborers against laissez…
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Industrial Revolution Capitalism and Communism

Download file to see previous pages... Subsequently, this labor force could not be made to fit itself inside the dimensions of medieval economy that used to be fully controlled by the monarchs, businessmen, and noblemen. Hence, labor organization against the medieval structure of laissez faire led to significant change in industrial and economic relations influencing the society as a whole (Goloboy, 2006). In examining that how the workers’ lives were altered by industrialization, we must say that the workers had to acquire newer skill sets, work for longer, and function production oriented without rest and entertainment. Factory owners chose to exploit them and society changed rapidly. Workers were now underpaid, they lived in factory system, and state became a managing committee of the business owners (Carlton, 1920).
Second, mechanization of production processes the number of people working in the factories. The lifestyle in agrarian economy was drastically different from that in the industrial economy. This led to extensive urban development since changes in lifestyle increased ambition and consumption of the masses. After initial hurdles, urban development led to social mixing, abolition of obsolete traditions, and innovation of shorter and simpler social customs, rituals, formalities, etc. But the economic differences between the owners and the workers began to become steeper along with these developments. Owners continued to become richer and workers continued to become poorer.
During and after industrial revolution, a new class of businessmen emerged who have enough capital, which they could use to build factories and experiment with different methods production engineering and fund research. This weakened the economic control of monarchs, although no significant political change took place. Hence, a powerful business class – the capitalists emerged, who established the system of capitalism (Goloboy, 2006). Relationship between the working class and the owners was ...Download file to see next pagesRead More
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