Industrial Revolution Research Paper

During the Industrial Revolution, technological developments contributed to a large extent towards the economic boom. A large economic change swept over Britain during the Industrial Revolution, since new technology was being implemented in processing and trading goods. The result of a hike in technology over a short period of time resulted in numerous economic changes. A new economic class called the ‘middle class’ was formed, who were interested in taking the risk of investing in technology, to implement in their own factories. However, with the ‘middle class’ creeping closer to the top of the economic pyramid, the lower class were stuck in a poverty cycle due to a large wage gap. Without Britain’s connection in world trade they would have …show more content…
Investors seeking profit complimented the development of technology, by funding development projects to find cheap and efficient production methods. Britain prospered by the partnership between investors and inventors since it was a building block of their industrialisation. Britain’s success during the Industrial Revolution was mostly due to the middle-class investors who were willing to take the risk in technological investments. Engineers were able to create machinery which was adopted in factories, overwriting the cottage system. Source A is a blueprint of a steam boat which offered investors a way to import up to four-hundred slaves from Africa. While it wasn’t inhumane at the time, investors were able to capitalise by minimising labour costs in farms where raw materials were produced. With a growth interest in investing, a new ‘middle class’ was formed. As a result, investors profited upon funding the development of technology because they were able to maximise their …show more content…
Britain’s connections allowed them to import raw materials at a lower price, and export goods at a higher price since other countries didn’t have factories to process raw materials. The development of land and naval forms of transport allowed British investors to profit from imports and enlarge their export profits. Processed goods were highly sought after, and factory owners never ran out of demand which kept the middle class interested. Interested in building and running factories since they had export methods at their disposal. The growth of factory owners sky-rocketed, and the middle class were very wealthy which enlarged the British economy in comparison to other countries. A crucial factor of Britain’s success in its Industrial Revolution, was their trade triangle which floated between England, Africa and South America as seen in Source C. Britain was able to import slaves to process raw materials which were sent to England to be processed. Due to technology they were able to have a fully functional trade system which grew the British economy, who was at the top of the Industrial

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