Rise of Capitalism

 

Let us discuss the causes of the rise of capitalism during the Industrial Revolution.

 

Increase in population: How did the increase in population led to the rise of capitalism?

 

The national wealth and standard of living were increased during the Industrial Revolution. The life of the people became more luxurious and comfortable. It helped in checking the effect of various diseases on the people and thus led to an increase in population.

 

The population of England increased to 210 lakhs from 1750 CE to 1825 CE. The people moved to urban areas for employment, education, cultural benefits, better freedom, and the rural population also increased. There was less number of deaths due to plague and wars.

 

Legal Requirement: According to an enclosure law, the farmers had to put fences around the field to avoid common grazing. In case the farmers were not capable of fencing, they had to sell their lands to large landholders. They started looking for jobs at a different place thereby increasing the workforce in industries.

 

Growth or Rise of Towns and Cities: The domestic system of production was destroyed by the introduction of machinery. Factories were established which brought people from the villages to towns and cities.

 

Do you know some examples of cities which grew in England?

 

New towns and cities grew in England such as Manchester, Birmingham, Sheffield, and Leeds. Some of these cities were close to the factories to supply fuel. The factories were set up close to the sources of power.

 

Large Scale Production: Goods were produced on a large scale by the use of machines and the division of labor. Production of goods was standardized and at a low cost. The consumers could get better quality goods at cheaper rates.

 

The disappearance of Small Farmers: The small farmers shifted to new industrial towns and were replaced by big landlords. More than three-quarters of the population of pre-industrial England lived in small villages.

 

Thus, by the mid-19th century, the country became the first nation with half of the population living in cities. By 1850, British people lived in crowded industrial cities and reformers began to speak of the mills and factories as evil and dark places.

 

Improvement in the Standard of Living: People became rich due to the Industrial Revolution. Living standards of people were raised and it increased the comforts of the people. New means of transport and communication made life easier and happier. It also improved the way of thinking and intellectual standards.

 

Growth in Agriculture: Which factors led to the growth in agriculture?

 

New machinery, better seeds, the drainage of wasteland, the use of fertilizers, etc. led to the growth in agriculture. Cash crops were grown by the farmers on a large scale which made them rich.

 

Development of Banking: Growth of Joint Stock and Trading Companies required to progress in industry and commerce. It carried the business of these companies with the help of banks. The agriculturists also got a loan for their improvement. Thus, the Banking System was developed.

National and International Markets: The Industrial Revolution led to the development of national as well as international markets. Heavy taxes were imposed on imported goods for safeguarding national industries.

 

Goods were produced on a large scale and were exported to different countries. Thus, the business of import and export developed international markets.

 

MCQs:

 

1. The population of England increased to 210 lakhs from 1750 CE to ________.
a) 1800 CE
b) 1792 CE
c) 1820 CE
d) 1825 CE

 

2. Domestic system of production was destroyed by the introduction of ________.
a) Good quality goods
b) Capitalism
c) Division of labour
d) Machinery

 

3. ___________ were grown by the farmers on a large scale which made them rich.
a) Low-quality crops
b) Kharif crops
c) Rabi crops
d) Cash crops

 

4. Which of the following is not the cause of the rise of capitalism?
a) Improvement in standard of living
b) Growth in agriculture
c) Legal requirement
d) More number of small farmers

 

5. The business of ___________ led to the development of international markets.
a) cash crops
b) weaving
c) spinning
d) import and export

 

Read More: What is Capitalism? Impact of Capitalism On Life and Growth Of People