World of Industries

SOCIAL AND ECONOMIC CONSEQUENCES OF INDUSTRIAL REVOLUTION


* England held a dominant position in the world trade. It produced goods in large scale. The native producers could not compete with them. Goods became cheaper and easily available.

* Higher duties were imposed on import of goods for the protection of local trade and industries.

* The industrially developed countries began to compete with each other for raw material and open markets which resulted in international rivalry among them.

* Japan became an industrially developed country by 19th century AD and entered in the fray.

* The economically poor countries were colonised and subjected to exploitation.

* The rivalry in colonisation led to economic imperialism. This ultimately resulted in the devastating world wars.

* There was an intense competiton and rivalry between capitalist and industrialist for the establishment of factories. The poisonous fumes from the factories polluted the climate. Air and water, resulting in health hazards.

* The workers lived in slums around factories, under hygenic conditions. The health of the workers deteriorated. They resorted to drinking, gambling and other immoral practices.

* As a result of the teachings of humanism in the 18th and 19th centuries, several legislative measures were introduced for the welfare of workers.

* Restrictions were imposed for the establishment of new factories to prevent further pollution.

* Measures were taken to make workers also as partners in the production without any discrimination between men and women. Workers and owners were placed on equal bases and the values of democracy preserved.