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What are the merits and demerits of Industries?

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March 04, 2015 5:31PM

Industry (from Latin industrius, "diligent, industrious"), is the segment of economy concerned with production of goods and services. Industry began in its present form during the 1800s, aided by technological advances, and it has continued to develop to this day. Many developed countries (The U.K., The U.S. and Canada for example) and many developing/semi-developed countries (People's Republic of China, India etc.) depend significantly on industry. Industries, the countries they reside in, and the economies of those countries are interlinked in a complex web that may be hard to understand at first glance.

MERITS

-faster production of items

-decrease of prices

-decrease of use of man-power

-made works of people easy

-development in field of information technology and R&D(research and development)

-offers jobs 2 well employed

-Textile manufacture-In the early 18th century, British textile manufacture was based on wool which was processed by individual artisans, doing the spinning and weaving on their own premises. This system is called a cottage industry. Flax and cotton were also used for fine materials, but the processing was difficult because of the pre-processing needed, and thus goods in these materials made only a small proportion of the output.

-Metallurgy-The major change in the metal industries during the era of the Industrial Revolution was the replacement of organic fuels based on wood with fossil fuel based on coal.

-Mining- Coal mining in Britain, particularly in South Wales started early. Before the steam engine, pits were often shallow bell pits following a seam of coal along the surface which were abandoned as the coal was extracted.

-Steam power-The development of the stationary steam engine was an essential early element of the Industrial Revolution; however, for most of the period of the Industrial Revolution, the majority of industries still relied on wind and water power as well as horse and man-power for driving small machines. TRANSPORTATION

-Chemicals

-Machine tools

-Gas lighting

-Agriculture

DEMERIT

-world into rich and poor

-creates economic disturbances among countries

Factories and urbanization-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. Nowhere was this better illustrated than the mills and associated industries of Manchester, nicknamed "Cottonopolis", and arguably the world's first industrial city. 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 tall chimney to give an efficient draft through its boiler.

Child labour-The Industrial Revolution led to a population increase, but the chance of surviving childhood didn't improve throughout the industrial revolution.[29] 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 laborers. This made child labour the labour of choice for manufacturing in the early phases of the industrial revolution.

Housing-Living conditions during the Industrial Revolution varied from the splendor of the homes of the owners to the squalor of the lives of the workers. Cliffe Castle, Keighley, is a good example of how the newly rich chose to live. This is a large home modeled loosely on a castle with towers and garden walls. The home is very large and was surrounded by a massive garden, the Cliffe Castle is now open to the public as a museum.

Luddites-The rapid industrialization of the English economy cost many craft workers their jobs. The textile industry in particular industrialized early, and many weavers 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.

Organization of labourThe Industrial Revolution concentrated labour into mills, factories and mines, thus facilitating the organization 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 suffer 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.

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.