Industrial Revolution (jan 1, 1700 – jan 1, 1800)
Description:
The Industrial revolution was a time when the manufacturing of goods moved from small shops to factories. It resulted in the development of mechanization of labour and the mass production and consumption of goods.
Contributions to Classical Liberalism:
As a result of the industrial Revolution, people were given greater economic freedom, engaged in competition due to their self interest, and gained private property. The industrial revolution was a great step towards classical liberalism. There were also negative impacts that resulted from the revolution, they were: bad working conditions, low wages, loss of jobs and ultimately the huge gap between the working class and the nouveau riche.
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The Development of Classical Liberalism
Many events in history contributed to the development of cla...
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