Technologies that shaped the Business World: The Industrial Revolution was perhaps the most transformative event in human civilisation

The Industrial Revolution can be defined as “The rapid development of industry that occurred in Britain in the late 18th and 19th centuries, brought about by the introduction of machinery” and was perhaps the most transformative event in human civilisation (Oxforddictionaries, ND). However, an industrial revolution may be defined as “any rapid significant technological change” over a period (Landes, 1969). It is also the period in which there was a mass displacement from rural living and working (due to the enclosure of land), to a highly urbanised lifestyle and is partially responsible for an increased population worldwide. “In 1750, 85% of the British population lived in the countryside” and by the end of the 18th century the statistics had reversed, forcing the UK to meet the demand of growing cities in both housing and agricultural production (List25, ND). This led to an unprecedented creation of wealth and opportunity, and due to its entrepreneurial spirit explains why Britain was known as a “nation of shopkeepers” (Smith, 1776). There are many other important events in human history that may arguably be the singular most transformative event, for example the First or Second World Wars, or the discovery of electricity. However, neither of these events would have been made possible without The Industrial Revolution. This paper presents arguments supporting and contradicting the statement utilising evidence from a number of sources in order to present a well-reasoned view on the topic.

One theory which accurately summarises the Industrial Revolution is the “Unified Growth Theory (UGT) which assumes that [an] industrial revolution is preceded by a period of increased technical advance fuelled by population growth which increases the return on investment in human capital” (Berg & Staley, 2015). Due to vast improvements in transport, coupled with the rapid growth (both in size and population, 9.3 million in 1801 to 15.9 million in 1841), cities became ideal places for the upper and middle classes to shop (Trueman, 2015). “Even in poorer districts, weekly markets were important events in most towns, although agricultural produce and livestock were sold” as opposed to high quality goods (British Library, 2014). And a result of this consumerist lifestyle, technology found its place in society. LePoire (2010) details that “leadership moves from smaller states to larger states because larger states have the flexibility to develop more complex organizational processes and adapt new technology”. Figure 1 supports this view and details the acceleration of technological change between 1400 and 2017. Ashton (1949) states that “Innovation is a process which, once underway way, tends to accelerate”. This is made evident in the graph by the sharp increase in innovation following the invention of the steam engine (which marks the start of The Industrial Revolution).

Figure 1. Uldrich, J (2015) “Please, Graph Your Future”

By considering Figure 1 and the number of internet capable devices in the average UK household (a 12% annual increase on last year, taking the average to 8.3 per home) it can be said that the Industrial Revolution was the most transformative event in human civilisation (RealBusiness, 2016). Between 1763 and 1775 James Watt patented his steam engine, 1764 brought about the invention of the spinning Jenny which was responsible for mass production of cotton fabrics. In 1821 and 1834 respectively, Charles Babbage created his difference and analytical machines and the harnessing of electricity in 1831 by Michael Faraday led to the birth of modern technology. Although the Industrial Revolution has shaped almost, if not every, human life there are other notable events which have arguably shaken the existence of humanity with the same or relative gravitas. For instance, both World Wars. There have always been wars, but the destructive capabilities increased as a result of breakthroughs through increased productive efficiency. Landes (1969) stated that the “victims of the Industrial Revolution were numbered in the hundreds of thousands or even millions. On the other hand, many of these would have been even worse off without industrialization”. This is further validated by the physical and residual effects of the two World Wars which, as discussed, were only possible as a result of the Industrial Revolution.

Another compelling argument against the statement is the discovery of electricity. Electricity opened the door for modern technological advancement without which, no advanced computation system would exist. It may be argued that its discovery and utilisation may be more transformative than any other event in human history as modern civilisation has become overly dependent on electricity as a power supply. “Electricity to this day is the most important invention because it serves as the baseline for all inventions to come” and by that logic all future advancements in technology rely on electricity as a power source (Medium, ND).

Whilst other transformative events have shaped human history, none are as significant as The Industrial Revolution which provided the basis for the majority of modern technology and political ideologies such as liberalism, capitalism and conservatism. In 1985, Cohen writes that “we are in the midst of the third industrial revolution, that of automation, air transport, and atomic power” thus proving that the revolution has not yet ended. Modern technology not only allows us to produce more, faster; it enables us to conceive and produce “objects that could not have been produced under any circumstances by the craft methods of yesterday" (Landes, 1969).

In conclusion, it is clear that The Industrial revolution has affected the majority of modern civilisation as without it we would not have many of the ‘taken for granted’ technologies of the 21st century. Another conclusion is the Industrial Revolution is responsible for the birth of consumerism. A working population now possessed disposable income, and in conjunction with high productivity birthed a consumerist lifestyle. McKendrick et al. (1982) argue that the 18th century Industrial Revolution should be (re)interpreted as a consumer revolution as it better describes the emphasis on consumption as opposed to demand. In fact, Landes (1969) writes that “the Englishman of 1750 was closer in material things to Caesar's legionnaires than to his own great-grand- children” in terms of technology and societal change. Considering Figure 1, it is possible to understand his observation which supports the statement that The Industrial Revolution was perhaps the most transformative event in human civilisation.




Submitted as an assignment in 2017 by JL


References:

Ashton, T. S. (1949) The Industrial Revolution 1760-1830, Oxford University Press: Oxford

Berg, P & Staley, M. (2015) “Capital substitution in an industrial revolution”, Canadian Journal of Economics.  Vol. 48 Issue 5, p1975-2004

Cohen, B. (1985) “Revolution in Science”, Harvard University Press, p. 269

Landes. D (1969) The Unbound Prometheus: Technical change and Industrial Development in Western Europe from 1750 to Present, Cambridge University Press: London

LePoire, D.J. (2010) “Long-term population, productivity, and energy use trends in the sequence of leading capitalist nations, Technol. Forecast. Soc. Change” p. 1303

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