Influence Of Mercantilism In Industrial Revolution

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The origin of Industrial Revolution in 1750 in England really paved the way for the evolution of today’s many technologies. Prior to the revolution, many goods were handmade and businesses were family based. However, in the mid-late 1700s, power converted into steam power and handmade goods turned into machine-made goods, making it easier to create higher-end goods at a faster pace at great demand. In today’s society, a cotton shirt may not be considered as a technological advancement in comparison to a handheld electronic device but back in the mid-1700s to early 1800s, cotton has played an important role in shaping the Industrial Revolution. The evolution of manufacturing technology and the attitude of mercantilism heavily influenced the…show more content…
They were fond of obtaining foreign raw materials to use to create furnished goods for profit. England utilized colonies ranging from North and South America to as far as Asia and Africa to obtain wood, sugar, cotton, and indigo. They would then take these raw materials and create furnished products and would export back these finished products. Because the products were furnished, they were often sold at high prices and England heavily benefited from the amount of profit made. The amount of money made eventually got to their heads and the attitude of entrepreneurship changed drastically. Mercantilism (profitable trading) changed many hesitant entrepreneurs and implanted the idea that wealthy equals attractive. This then changed the course of labor laws and now a new class overcame an already, managing…show more content…
In 1812, the cotton industry outplaced wool and in 1830, 50% of England’s exports were cotton. Because they became familiar with the new technology, shipping and transportation were more accessible and this made it easier for England to colonize. The value of America’s cotton plummeted and they eventually destroyed India’s cotton handicraft industry through diminishing profit. In 1770, Britain convinced Parliament to ban the importation of Indian cotton via the English East India Company because they suspected that India was the cause of their falling profits. This ban raised the demand for English cotton, destroyed competition of Indian textiles, and eventually flooded Indian and American markets with British goods. However, it was not until a familiar act, Navigation Acts (Americans could only trade with British), came into play the most: India becomes imperialized by Britain. Because India’s economy was already weakened by Britain’s immense profitability, India became easily accessible for conquest (1750s-1850s) and eventually became imperialized. India’s cotton economy was destroyed and Britain’s power heavily

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