They accelerated it, by lowering labor costs thus increasing the profits available for capitalists, giving them more money to invest and more incentive to invest.
canals, capital, and cheap labor.
Fair Labor Standard Act
There was a shift from individualized to mass methods of producing goods.
It increased the division of labor.
Cheap labor and a willingness to work hard aided in the explosion of growth during the Industrial Revolution.
canals, capital, and cheap labor.
Colonies provided cheap labor
Fair Labor Standard Act
Before the Industrial Revolution, labor was more generalized. After the Industrial Revolution, labor was specialized.
There was a shift from individualized to mass methods of producing goods.
It increased the division of labor.
It increased the division of labor.
Cheap labor and a willingness to work hard aided in the explosion of growth during the Industrial Revolution.
Industrial Revolution
labor movement
The Industrial Revolution brought about changes in material production, wealth, population distribution and labor patterns.
The Industrial Revolution led to the emergence of new economic theories such as classical economics, which emphasized market forces, labor specialization, and the importance of industrial production. It also sparked debates on capitalism, socialism, and the role of government in regulating the economy. Overall, the Industrial Revolution significantly influenced the development of modern economic thought.