Introduction

The industrial revolution is the name given to changes occurring in the economy and society of Britain in the late eighteenth and early nineteenth century, changes which, in different forms, have since spread to many other parts of the globe. The term derives from the comparison which contemporaries drew with the fundamental changes of the French revolution. Although one can find the origins of industrialisation in earlier centuries and although the changes were at a very incomplete stage by the mid nineteenth century, an unprecedented shift was underway which was to change the nature of human society for ever. We live today with its global consequences both the benefits to mankind (in higher living standards and life expectancy for many) but also with its darker side (the inequities and political tensions of capitalist world development, and the threat of ecological disaster). For these reasons the subject is a vital one to study and to understand.

"In the eighty years or so after 1780 the population of Britain nearly tripled, the towns of Liverpool and Manchester became gigantic cities, the average income of the population more than doubled, the share of farming fell from just under a half to just under a fifth of the nation's output, and the making of textiles and iron moved into steam-driven factories. So strange were these events that before they happened they were not anticipated, and while they were happening, they were not comprehended… The British economy from 1780 to 1860 was unpredictable because it was novel, not to say bizarre."

(D. N. McCloskey, 1981)

Breaking through the pre-industrial barriers to growth The industrial revolution certainly saw some dramatic changes in the economy and society of Britain. There was a huge increase in the numbers of people employed in industrial manufacturing, making goods of all kinds, but especially textiles, iron goods, metal wares and pottery, for both overseas and domestic markets. More of the working population also came to live and work in towns and cities in occupations such as petty trading, retailing, transport and domestic service as well as manufacturing. A smaller and smaller proportion of the working population, less than a third by the end of our period, came to live in the countryside and get their living from the land. In the early eighteenth century more than two thirds of the labour force had been in agriculture. Towns and cities, including relatively new centres of population and trade grew at an unprecedented rate, spurred by the high rates of population growth that accompanied industrialisation. Population growth spurts had happened in earlier centuries but a unique change occurred at this time because such growth did not usher in mass starvation or major increases in disease or mortality (such as had occurred during the Black Death in the 14th century, for example). During and after the industrial revolution, for the first time in history, population growth and economic growth were able to occur together over the long term and without the former snuffing out the latter. This is why the industrial revolution was such a watershed. The pre-industrial limits to both population growth and economic growth were destroyed.

Starting in the later part of the 18th century, there began a transition from previously manual labour and draft-animal–based economy towards machine-based manufacturing. It started with the mechanization of the textile industries, the development of iron-making techniques and the increased use of refined coal. Trade expansion was enabled by the introduction of canals, improved roads and railways.

The introduction of steam power fuelled primarily by coal, wider utilisation of water wheels and powered machinery (mainly in textile manufacturing) underpinned the dramatic increases in production capacity. The development of all-metal machine tools in the first two decades of the 19th century facilitated the manufacture of more production machines for manufacturing in other industries. The effects spread throughout Western Europe and North America during the 19th century, eventually affecting most of the world, a process that continues as industrialisation. The impact of this change on society was enormous.

                                                     

Inventions

The Spinning Jenny
The Spinning jenny was a machine that could spin threads of wool. It was invented by jasmes hargreaves in 1770 and initially could spin 8 threads at once. Hargreaves developed this machine to the extent that it could spin 120 threads at any one time. These machines were small enough to fit into cottages and rapidly increased production (by hand a person can only spin one thread at a time).

The Water Frame
Richard Arkwright patented the Water Frame in 1769. It had been designed by Thomas highs on his behalf. The Water frame was a large wheel that was turned by running water. This was then harnessed to turn cogs inside a factory which then made the machinery work. This invention led to the building of a number of factories and is regarded by some as being the catalyst of the Industrial Revolution.

The Steam Engine
The first steam powered devices were pumps. The first practical one being developed by Thomas Newcomen. This steam powered pump was used to not only pump water from mines but also to blow air into furnaces, and for pumping drinking water into towns.
James Watt's development of the steam engine led to a large number of further developments. using steam to create energy meant that this new form of powering a machine could be used anywhere, rather than just next to a stream/ river as with the Water Frame. The steam engine is best associated with the invention of trains but also was used to power machinery in factories, to power lifts in mines and for many other purposes.

The Locomotive (Train)     

In 1801 Richard Trevithick developed a steam powered carriage that carried passengers on roads, he developed this idea further and in 1804 created the first locomotive to run on rails (ie the first train). He then demonstrated an updated version of his locomotive in london in 1808.
Trevithicks' ideas were developed by the George Stephenson. Stephenson was an engineer in the mining industry and had responsibility for the steam engines that pulled waggons up from the pit face. He rapidly developed these engines and built a locomotive in 1814. he then was appointed chief engineer of the first 'railway' between Stockton and Darlington and later built the famous 'Rocket' which ran on the Manchester to Liverpool line which opened in 1830.

                                                   - Juan Manuel Pérez

Industrial Revolution in England

Industrial Revolution in England is of immense importance in world history because of the fact that the Industrial Revolution first emerged in England and had far-reaching repercussions.

Though the Industrial Revolution also started in other Western countries in the 18th century, the process of industrialization in England was the most accelerated one. There were some strong reasons behind this highly accelerated industrial growth in England. England possessed large volumes of coal, which easily met the demand for industry fuel. There was an abundant labor force which produced loads of coal and iron through mining.

Moreover, England had many colonies across the world, which were forced to supply raw materials for meeting the raw material demand of British industries.

. All these factors together contributed towards such a revolutionary industrial growth that it was termed an Industrial Revolution.

Other than the abundance of raw material, fuel, labor force and other resources, the other important factor that accelerated industrial growth tremendously was the use of power driven machines. In 1962, in a factory of England, a steam engine was installed for supplementing power. Large waterwheels were used to generate power which could run the polishing machines, grinding machines, and lathes machines. From 1700, potters of England started using waterwheels or windmills to run their machines which used to grind and mix the required materials. Among all these power driven machine usages, the most legendary one was use of machines in the textile industry. Earlier, the productivity in the textile industry was quite low, but after the invention of the Flying Shuttle and Spinning Jenny, productivity levels rose by leaps and bounds.

All these technological changes brought about by the Industrial Revolution were accompanied by socio- economic-cultural changes. England experienced an spurt in its population along with a growing trend of urbanization.

A new working class was created, comprising of industrial workers. These industrial workers included men, women, and even children who worked in textile mills, mines, and pottery establishments. Wages given to these workers were very low and they worked inhuman hours in unpleasant working environments.

                                                      - Juan Manuel Pérez

Society of the industrial revolution

Social effects

In terms of social structure, the Industrial Revolution witnessed the triumph of a middle class of industrialists and businessmen over a landed class of nobility and gentry.

Ordinary working people found increased opportunities for employment in the new mills and factories, but these were often under strict working conditions with long hours of labour dominated by a pace set by machines. However, harsh working conditions were prevalent long before the Industrial Revolution took place. Pre-industrial society was very static and often cruel—child labour, dirty living conditions, and long working hours were just as prevalent before the Industrial Revolution.

Factories and urbanisation

Industrialisation led to the creation of the factory. However, the rise of the factory came somewhat later when cotton spinning was mechanised.

The factory system was largely responsible for the rise of the modern city, as large numbers of workers migrated into the cities in search of employment in the factories. For much of the 19th century, production was done in small mills, which were typically water-powered and built to serve local needs. Later each factory would have its own steam engine and a chimney to give an efficient draft through its boiler.

The transition to industrialisation was not without difficulty.

In other industries the transition to factory production was not so divisive. Some industrialists themselves tried to improve factory and living conditions for their workers.

Child labour

The Industrial Revolution led to a population increase, but the chance of surviving childhood did not improve throughout the industrial revolution.  There was still limited opportunity for education, and children were expected to work. Employers could pay a child less than an adult even though their productivity was comparable; there was no need for strength to operate an industrial machine, and since the industrial system was completely new there were no experienced adult labourers. This made child labour the labour of choice for manufacturing in the early phases of the Industrial Revolution between the 18th and 19th centuries.

Child labour had existed before the Industrial Revolution, but with the increase in population and education it became more visible. Many children were forced to work in relatively bad conditions .

Politicians and the government tried to limit child labour by law, but factory owners resisted; some felt that they were aiding the poor by giving their children money to buy food to avoid starvation, and others simply welcomed the cheap labour. In 1833 and 1844, the first general laws against child labour, the Factory Acts, were passed in England: Children younger than nine were not allowed to work, children were not permitted to work at night, and the work day of youth under the age of 18 was limited to twelve hours. Factory inspectors supervised the execution of the law, however, their scarcity made enforcement difficult. About ten years later, the employment of children and women in mining was forbidden. These laws decreased the number of child labourers; however, child labour remained in Europe and the United States up to the 20th century. By 1900, there were 1.7 million child labourers reported in American industry under the age of fifteen.

Housing

Living conditions during the Industrial Revolution varied from the splendour of the homes of the owners to the squalor of the lives of the workers. Poor people lived in very small houses in cramped streets. These homes would share toilet facilities, have open sewers and would be at risk of damp. Disease was spread through a contaminated water supply. Conditions did improve during the 19th century as public health acts were introduced covering things such as sewage, hygiene and making some boundaries upon the construction of homes. Not everybody lived in homes like these. The Industrial Revolution created a larger middle class of professionals such as lawyers and doctors. The conditions for the poor improved over the course of the 19th century because of government and local plans which led to cities becoming cleaner places, but life had not been easy for the poor before industrialisation. However, as a result of the Revolution, huge numbers of the working class died due to diseases spreading through the cramped living conditions. Chest diseases from the mines, cholera from polluted water and typhoid were also extremely common, as was smallpox. Accidents in factories with child and female workers were regular. Strikes and riots by workers were also relatively common.

Luddites

The rapid industrialisation of the English economy cost many craft workers their jobs. The movement started first with lace and hosiery workers near Nottingham and spread to other areas of the textile industry owing to early industrialisation. Many weavers also found themselves suddenly unemployed since they could no longer compete with machines which only required relatively limited (and unskilled) labour to produce more cloth than a single weaver. Many such unemployed workers, weavers and others, turned their animosity towards the machines that had taken their jobs and began destroying factories and machinery. These attackers became known as Luddites, supposedly followers of Ned Ludd, a folklore figure. The first attacks of the Luddite movement began in 1811. The Luddites rapidly gained popularity, and the British government took drastic measures using the militia or army to protect industry. Those rioters who were caught were tried and hanged, or transported for life.

Unrest continued in other sectors as they industrialised, such as agricultural labourers in the 1830s, when large parts of southern Britain were affected by the Captain Swing disturbances. Threshing machines were a particular target, and rick burning was a popular activity. However the riots led to the first formation of trade unions, and further pressure for reform.

Organisation of labour

The Industrial Revolution concentrated labour into mills, factories and mines, thus facilitating the organisation of combinations or trade unions to help advance the interests of working people. The power of a union could demand better terms by withdrawing all labour and causing a consequent cessation of production. Employers had to decide between giving in to the union demands at a cost to themselves or suffering the cost of the lost production. Skilled workers were hard to replace, and these were the first groups to successfully advance their conditions through this kind of bargaining.

The main method the unions used to effect change was strike action. Many strikes were painful events for both sides, the unions and the management. In England, the Combination Act forbade workers to form any kind of trade union from 1799 until its repeal in 1824. Even after this, unions were still severely restricted.

In 1832, the year of the Reform Act which extended the vote in England but did not grant universal suffrage, six men from Tolpuddle in Dorset founded the Friendly Society of Agricultural Labourers to protest against the gradual lowering of wages in the 1830s. They refused to work for less than 10 shillings a week, although by this time wages had been reduced to seven shillings a week and were due to be further reduced to six shillings. In 1834 James Frampton, a local landowner, wrote to the Prime Minister, Lord Melbourne, to complain about the union, invoking an obscure law from 1797 prohibiting people from swearing oaths to each other, which the members of the Friendly Society had done. James Brine, James Hammett, George Loveless, George's brother James Loveless, George's brother in-law Thomas Standfield, and Thomas's son John Standfield were arrested, found guilty, and transported to Australia. They became known as the Tolpuddle martyrs. In the 1830s and 1840s the Chartist movement was the first large scale organised working class political movement which campaigned for political equality and social justice. Its Charter of reforms received over three million signatures but was rejected by Parliament without consideration.

Working people also formed friendly societies and co-operative societies as mutual support groups against times of economic hardship. Enlightened industrialists, such as Robert Owen also supported these organisations to improve the conditions of the working class.

Unions slowly overcame the legal restrictions on the right to strike. In 1842, a General Strike involving cotton workers and colliers was organised through the Chartist movement which stopped production across Great Britain.

Eventually effective political organisation for working people was achieved through the trades unions who, after the extensions of the franchise in 1867 and 1885, began to support socialist political parties that later merged to became the British Labour Party.

Standards of living

The history of the change of living conditions during the industrial revolution has been very controversial, and was the topic that from the 1950s to the 1980s caused most heated debate among economic and social historians. A series of 1950s essays by Henry Phelps Brown and Sheila V. Hopkins later set the academic consensus that the bulk of the population, that was at the bottom of the social ladder, suffered severe reductions in their living standards.

Chronic hunger and malnutrition were the norm for the majority of the population of the world including England and France, until the latter part of the 19th century. Until about 1750, in large part due to malnutrition, life expectancy in France was about 35 years, and only slightly higher in England. The U.S. population of the time was adequately fed, were much taller and had life expectancies of 45–50 years.A vivid description of living standards of the mill workers in England in 1844 was given by Fredrick Engels.

During the period 1813-1913 there was a significant increase in worker wages .

Population increase

According to Robert Hughes in The Fatal Shore, the population of England and Wales, which had remained steady at 6 million from 1700 to 1740, rose dramatically after 1740. The population of England had more than doubled from 8.3 million in 1801 to 16.8 million in 1851 and, by 1901, had nearly doubled again to 30.5 million. As living conditions and health care improved during the 19th century, Britain's population doubled every 50 years. Europe’s population doubled during the 18th century, from roughly 100 million to almost 200 million, and doubled again during the 19th century, to around 400 million.

Other effects

The application of steam power to the industrial processes of printing supported a massive expansion of newspaper and popular book publishing, which reinforced rising literacy and demands for mass political participation.

During the Industrial Revolution, the life expectancy of children increased dramatically. The percentage of the children born in London who died before the age of five decreased from 74.5% in 1730–1749 to 31.8% in 1810–1829.

The growth of modern industry from the late 18th century onward led to massive urbanisation and the rise of new great cities, first in Europe and then in other regions, as new opportunities brought huge numbers of migrants from rural communities into urban areas. In 1800, only 3% of the world's population lived in cities, a figure that has risen to nearly 50% at the beginning of the 21st century. In 1717 Manchester was merely a market town of 10,000 people, but by 1911 it had a population of 2.3 million.

                              - Adrián Contreras

Famous People

Thomas Alva Edison: (February 11, 1847 – October 18, 1931) was an American inventor, scientist, and businessman who developed many devices that greatly influenced life around the world, inc

luding the phonograph, the motion picture camera, and a long-lasting, practical electric light bulb. 

Nikola Tesla: (Serbian: Никола Тесла; 10 July 1856 – 7 January 1943) was an inventor, mechanical engineer, and electrical engineer. He was an important contributor to the birth of commercial electricity, and is best known for his many revolutionary developments in the field of electromagnetism in the late 19th and early 20th centuries. Tesla's patents and theoretical work formed the basis of modern alternating current (AC) electric power systems, including the polyphase system of electrical distribution and the AC motor. This work helped usher in the Second Industrial Revolution.

James Watt: (19 January 1736 – 25 August 1819) was a Scottish inventor and mechanical engineer whose improvements to the Newcomen steam engine were fundamental to the changes brought by the Industrial Revolution in both the Kingdom of Great Britain and the world.

Eli Whitney: (December 8, 1765 – January 8, 1825) was an American inventor best known for inventing the cotton gin. This was one of the key inventions of the Industrial Revolution and shaped the economy of the antebellum South.^[1] Whitney's invention made short staple cotton into a profitable crop, which strengthened the economic foundation of slavery. Despite the social and economic impact of his invention, Whitney lost his profits in legal battles over patent infringement, closed his business and nearly filed for bankruptcy.

Samuel Finley Breese Morse: (April 27, 1791 – April 2, 1872) was an American contributor to the invention of a single-wire telegraph system based on European telegraphs, co-inventor of the Morse code, and an accomplished painter.

Elias Howe, Jr.: (July 9, 1819 – October 3, 1867) was an American inventor and sewing machine pioneer.

Isaac Merritt Singer: (October 27, 1811 – July 23, 1875) was an inventor, actor, and entrepreneur. He made important improvements in the design of the sewing machine and was the founder of the Singer Sewing Machine Company.

Alexander Graham Bell:  (March 3, 1847 – August 2, 1922) was an eminent scientist, inventor, engineer and innovator who is credited with inventing the first practical telephone.

The Wright brothers, Orville: (August 19, 1871 – January 30, 1948) and Wilbur (April 16, 1867 – May 30, 1912), were two Americans who are generally credited with inventing and building the world's first successful airplane and making the first controlled, powered and sustained heavier-than-air human flight, on December 17, 1903.

                                                  -  Adrián Contreras

Causes

Introduction of the causes

All across England, the recent turn of the century has gone largely unnoticed. The vast majority of the country's population lives in the countryside, completely isolated or in small communities like Bedlington. The principal trades are growing grain or raising sheep for wool, both of which require a lot of manual labour. Farming tools are common, but machines are not; animals are raised, but not used extensively for cultivating the land. Life in the countryside depends on nature in many ways: good weather in the summer means a good crop, just as a long winter can mean hunger and discomfort. People rise with the sun and go to bed when it gets dark.

The Cottage Industry

At the dawn of the eighteenth century, farming was the primary livelihood in England, with at least 75% of the population making its living off the land. This meant that many English families had very little to do during the winter months except sit around and make careful use of the food and other supplies that they stored up during the rest of the year. If the harvest had been smaller than usual or if any other unexpected losses had come about, the winter could be a very long, cold, and hungry one. The cottage industry was developed to take advantage of the farmers' free time and use it to produce quality textiles for a reasonable price.

To begin the process, a cloth merchant from the city needed enough money to travel into the countryside and purchase a load of wool from a sheep farm. He would then distribute the raw materials among several farming households to be made into cloth. The preparation of the wool was a task in which the whole family took part. Women and girls first washed the wool to remove the dirt and natural oils and then dyed it as desired. They also carded the wool, which meant combing it between two pads of nails until the fibres were all pointed in the same direction. Next, the wool was spun into thread using a spinning wheel and wound onto a bobbin (this was often the job of an unmarried daughter; hence, the word "spinster" is still used today to describe an unmarried woman). The actual weaving of the thread into cloth was done using a loom operated by hand and foot; it was physically demanding work, and was therefore the man's job. The task of transforming raw wool into cloth could be done entirely by one household, or split between two or more (ie. spinning in one home, weaving in another). The merchant would return at regular intervals over the season to pick up the finished cloth, which he then brought back to the city to sell or export, and to drop of a new load of wool to be processed.

The cottage industry proved to be profitable for the urban merchants, since they could sell the finished cloth for far more than they paid the famers to make it. The cottage industry helped to prepare the country for the Industrial Revolution by boosting the English economy through the increase of trade that occured as the country became well-known overseas for its high-quality and low-cost exports. Previously, tradesmen had done all the manufacturing themselves, so the idea of subcontracting was new and appealing. The cottage industry was also a good source of auxiliary funds for the rural people. However, many farming families came to depend on the enterprise; thus, when industrialization and the Agricultural Revolution reduced the need for farm workers, many were forced to leave their homes and move to the city.

Why was Britain First?

Why was Britain the first country to industrialize? This change, which occurred between 1750 and 1830, happened because conditions were perfect in Britain for the Industrial Revolution. Having used wood for heat instead of coal, Britain was left with large deposits of coal remaining to fuel the new ideas. Any raw supplies Britain itself did not have could be provided by its many colonies. These colonies also provided captive markets for the abundance of new goods provided by the industrial revolution. The product was cotton. Cotton was a simple, cheap, and easily made product that everyone could use. So, between 1796 and 1830 cotton production tripled. The new production was easily transported, because there remained an old commercial fleet.

The Product and Market were the simple requirements, and many countries had them. What set Britain apart from the others, however, were three unique social elements: education, "modern" work attitudes, and a "modern" government. Great Britain had a larger educated workforce to run the machines and create manuals. The Enlightenment not only meant a larger educated population but also more modern views on work. The population in Great Britain was ready to move out of the country and to the city to work. Britain also had the large middle class and flexible mercantile class necessary. English society, unlike many others, was not opposed to "new money," and as such was eager to accept the new wealthy and their new ideas. Lastly, Britain's government, a long-time constitutional monarchy, was just right for the situation. The government was flexible enough to support the new system and to a certain degree accepted Adam Smith's capitalistic "invisible hand." The Dutch were the forerunners financially, but with the establishment of the Bank of England in 1694, their supremacy was challenged. The government and the bank provided incredible backing to new ideas, which soon turned into new wealth.

 Causes

Population Growth

The end of Feudalism and the English civil war all played a role in the population growth. Disease resistance grew as survivors of various plagues and diseases began to bear more children that were resistant to these diseases. Early marriages among young couples in society began to also lead to higher birth rate so more the population makeup was characterized by a large young population because of these children.  The direct result of the young population was large labor workforce that was made available throughout Britain and Europe.  People also began to migrate in large numbers to cities and began to develop new methods of labor like the factory systems.

Agricultural Revolution

The agricultural revolution began well before the 18^th century with the introduction of new crops from the New World into the European society. The rise of new staple foods rich in carbs needed to sustain large populations such as Potatoes  were readily available throughout Britain (Ireland) and Europe. The Columbian exchanged played a huge role in this as new products were shipped into Europe from the New Work as well as development of colonial workforce (slaves) for intense labor conditions (sugar and cotton production). The cattle industry as well as the cattle production was increased so more alternative foods (dairy products) were mass produced. The enclosure movement by wealthy landowners in Britain led to more privatization of land instead of open grazing lands used by the commons. Thus the tragedy of the commons was avoided at the same time, the profits and fruits of the land were more exclusive to the landowner. It also gave rise of tenant workers and landless laborers throughout Britain. Such people began to move into cities to seek better employment opportunities as more food enabled specialization to develop in the various aspects of society.

Trade and Inventiveness

The driving force behind all of this development was demand. It is often said that “necessity is the mother of all inventions” but that can readily be rephrased as “Demand is the mother of all inventions.” Thus the increased demand for goods leads to increased stresses for more production. This was a contributing factor in slavery for cash crop production as well as the technological invocations such as the assembly line, replaceable parts and factory style intense labor system that developed in the cities. The development of the “Putting out system” or a form of subcontracting work where certain elements of labor was given to various individuals to do at their own facilities (usually at home or within your factory or workshop) was in full swing. In general, Europe was fascinated by technology and driven largely by the Enlightenment principles to understand the world and solve social problems through technology and scientific methods.

                                                                                                                     - Juan José Nieves

Economy

In 1750, the European economy was overwhelmingly an agricultural economy. The land was owned largely by wealthy and frequently aristocratic landowners; they leased the land to tenant farmers who paid for the land in real goods that they grew or produced. Most non-agricultural goods were produced by individual families that specialized in one set of skills: wagon-wheel manufacture, for instance. Most capitalist activity focused on mercantile activity rather than production; there was, however, a growing manufacturing industry growing up around the logic of mercantilism. 

   The European economy, though, had become a global economy. In our efforts to try to explain why the Industrial Revolution took place, the globalization of the European economy is a compelling explanation. European trade and manufacture stretched to every continent except Antarctica; this vast increase in the market for European goods in part drove the conversion to an industrial, manufacturing economy. Why other nations didn't initially join this revolution is in part explained by the monopolistic control that the Europeans exerted over the global economy. World trade was about making Europeans wealthy, not about enriching the colonies or non-Western countrie

Economic, political and cultural factors combine to promote industrialisation

By the later eighteenth century, the British economy was well placed to experience a major economic and structural transformation as the pioneer industrialising nation. Foreign traders secured rapidly expanding overseas markets for her manufactures. The home market was buoyant because of population growth, high levels of urbanisation, the expansion of wage earning and rising incomes of the middle classes in particular. The stimulus of demand led to a search for more efficient ways of producing goods with technological and organisational innovations. Agriculture was expanding and changing so that the growing population could be fed without commensurate increase in the agricultural workforce. The country also had a stable political regime established after the restoration of a limited monarchy in the later seventeenth century. This stability was very important in encouraging enterprise and risk taking whilst legal and financial institutions were in place which protected property and encouraged investment.                             

The slow and patchy pace of change

However, the economic changes of the industrial revolution were more patchy and less complete than was once thought and than the word 'revolution' might suggest. The growth of real output, including industrial output, remained slow (not reaching 3% per year until the 1830s) and national income grew even more slowly. The productivity of labour, capital and land (total factor productivity), at national level, remained below 1% per annum until after 1830. (Productivity refers to the value of outputs which are produced by a given level of inputs). Many regions and sectors of the economy changed very slowly and many historians argue that the transformation of the period is better described as evolutionary rather than revolutionary.

Risk, uncertainty and the role of the family firm The decades of the industrial revolution were turbulent and volatile: markets were constantly changing under the impact of war, blockade and trade depressions. Opportunities expanded but risks were high because commercial information was poor and business conditions unpredictable. The many heroic success stories of entrepreneurs, families and firms during the industrial revolution are therefore matched with as many, if not more, examples of bankruptcy and failure. Very few giant firms emerged. In the risky and uncertain business climate, family firms predominated because personal and family relationships, and social networks, provided the levels of trust and confidence necessary for business viability and success. Such familial and social networks were often centred around localised religious groups whose members met regularly at church or chapel. Commitment to roles in local government and local charities and to membership of gentleman's clubs often served further to unite groups of businessmen and their relationships were frequently cemented by the intermarriage of their daughters and sons.                                             - Juan José Nieves